Афганистан's economy is recovering from decades of conflict. The economy has improved significantly since the fall of the Taliban regime in 2001 largely because of the infusion of international assistance, the recovery of the agricultural sector, и service sector growth. Real GDP growth exceeded 7% in 2007. Despite the progress of the past few лет, Афганистан is extremely poor, landlocked, и highly dependent on foreign aid, agriculture, и trade with neighboring countries. Much of the population continues to suffer from shortages of housing, clean water, electricity, medical care, и jobs. Criminality, insecurity, и the Afghan Правление's inability to extend rule of law to all parts of the country pose challenges to future economic growth. It will probably take the remainder of the decade и continuing donor aid и attention to significantly raise Афганистан's living standards from its current level, among the lowest in the world. Международные pledges made by more than 60 countries и international financial institutions at the Berlin Donors Conference for Afghan reconstruction in March 2004 reached $8.9 миллиардов: for 2004-09. While the international community remains committed to Афганистан's development, pledging over $24 миллиардов: at three donors' conferences since 2002, Kabul will need to overcome a number of challenges. Expanding poppy cultivation и a growing opium trade generate roughly $4 миллиардов: in illicit economic activity и looms as один of Kabul's most serious policy concerns. Other long-term challenges include: budget sustainability, job creation, corruption, government capacity, и rebuilding war torn infrastructure.

Lagging behind its Balkan neighbors, Албания is making the difficult transition to a more modern open-market economy. The government has taken measures to curb violent crime, и recently adopted a fiscal reform package aimed at reducing the large gray economy и attracting foreign investment. The economy is bolstered by annual remittances from abroad of $600-$800 миллионов, mostly from Albanians residing in Греция и Италия; this helps offset the towering trade deficit. Agriculture, which accounts for more than один-fifth от ВВП, is held back because of lack of modern equipment, unclear property rights, и the prevalence of small, inefficient plots of land. Energy shortages и antiquated и inadequate infrastructure contribute to Албания's poor business environment, which make it difficult to attract и sustain foreign investment. The completion of a new thermal power plant near Vlore и improved transmission line between Албания и Монтенегро will help relieve the энергия shortages. Also, the government is moving slowly to improve the poor national road и rail network, a long-standing barrier to sustained economic growth. On the positive side, macroeconomic growth was strong in 2003-07 и inflation is low и stable.

The hydrocarbons sector is the backbone of the economy, accounting for roughly 60% of budget revenues, 30% от ВВП, и over 95% of export earnings. Алжир has the eighth-largest reserves of природный газ in the world и is the fourth-largest газ exporter; it ranks 14th in нефть reserves. Sustained high нефть prices in recent лет have helped improve Алжир's financial и macroeconomic indicators. Алжир is running substantial trade surpluses и building up record foreign exchange reserves. Алжир has decreased its external debt to less than 10% от ВВП после repaying its Paris Club и London Club debt in 2006. Real GDP has risen due to higher нефть output и increased government spending. The government's continued efforts to diversify the economy by attracting foreign и domestic investment outside the энергия sector, however, has had little success in reducing high unemployment и improving living standards. Structural reform within the economy, such as development of the banking sector и the construction of infrastructure, moves ahead slowly hampered by corruption и bureaucratic resistance.

Американское Самоа has a traditional Polynesian economy in which more than 90% of the land is communally owned. Economic activity is strongly linked to the US with which Американское Самоа conducts most of its commerce. Tuna рыболовство и tuna processing plants are the backbone of the private sector, with canned tuna the primary export. Transfers from the US Правление add substantially to Американское Самоа's economic well being. Attempts by the government to develop a larger и broader economy are restrained by Самоа's remote location, its limited транспорт, и its devastating ураганы. Tourism is a promising developing sector.
примечание: as a territory of the US, Американское Самоа does not treat the US as an external trade partner

Tourism, the mainstay Андорры's tiny, well-to-do economy, accounts for more than 80% от ВВП. An estimated 11.6 миллионов tourists visit annually, attracted by Андорра's duty-free status и by its summer и winter resorts. Андорра's comparative advantage has recently eroded as the economies of neighboring Франция и Испания have been opened up, providing broader availability of goods и lower tariffs. The banking sector, with its partial "tax haven" status, also contributes substantially to the economy. Agricultural production is limited - only 2% of the land is arable - и most food has to be imported. The principal livestock activity is sheep raising. Manufacturing output consists mainly of cigarettes, cigars, и фурнитура. Андорра is a member of the EU Customs Union и is treated as an EU member for trade in manufactured goods (no tariffs) и as a non-EU member for продукты сельского хозяйства.

Ангола's high growth rate is driven by its нефть sector, with record нефть prices и rising нефть production. Oil production и its supporting activities contribute about 85% от ВВП. Increased нефть production supported growth averaging more than 15% per year from 2004 to 2007. A postwar reconstruction boom и resettlement of displaced persons has led to high rates of growth in construction и agriculture as well. Much of the country's infrastructure is still damaged или undeveloped from the 27-year-long civil war. Remnants of the conflict such as widespread land mines still mar the countryside even though an apparently durable peace was established после the death of rebel leader Jonas SAVIMBI in February 2002. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food must still be imported. In 2005, the government started using a $2 миллиардов: line of credit, since increased to $7 миллиардов:, from Китай to rebuild Ангола's public infrastructure, и several large-scale projects were completed in 2006. Ангола also has large credit lines from Бразилия, Португалия, Германия, Испания, и the EU. The central bank in 2003 implemented an exchange rate stabilization program using foreign exchange reserves to buy kwanzas out of circulation. This policy became more sustainable in 2005 because of strong нефть export earnings; it has significantly reduced inflation. Although consumer inflation declined from 325% in 2000 to under 13% in 2007, the stabilization policy has put pressure on international net liquidity. Ангола became a member of OPEC in late 2006 и in late 2007 was assigned a production quota of 1.9 миллионов barrels a day, somewhat less than the 2-2.5 миллионов bbl Ангола's government had wanted. To fully take advantage of its rich national resources - золото, алмазы, extensive forests, Atlantic fisheries, и large нефть deposits - Ангола will need to implement government reforms, increase transparency, и reduce corruption. The government has rejected a formal IMF monitored program, although it continues Article IV consultations и ad hoc cooperation. Corruption, especially in the extractive sectors, и the negative effects of large inflows of foreign exchange, are major challenges facing Ангола.

Ангилья has few natural resources, и the economy depends heavily on luxury tourism, offshore banking, lobster рыболовство, и remittances from emigrants. Increased activity in the tourism industry has spurred the growth of the construction sector, contributing to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector и, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.

Fishing off the coast и tourism, both based abroad, account for Антарктика's limited economic activity. Antarctic fisheries in 2005-06 (1 July-30 June) reported landing 128,081 metric тонны (estimated рыболовство from the area covered by the Convention on the Conservation of Antarctic Marine Living Resources (CCAMLR), which extends slightly beyond the Antarctic Treaty area). Unregulated рыболовство, particularly of Patagonian toothfish (Dissostichus eleginoides), is a serious problem. The CCAMLR determines the recommended catch limits for marine species. A total of 36,460 tourists visited the Antarctic Treaty area in the 2006-07 Antarctic summer, up from the 30,877 visitors the previous year (estimates provided to the Antarctic Treaty by the Международные Association Антарктики Tour Operators (IAATO); this does not include passengers on overflights). Nearly all of them were passengers on commercial (nongovernmental) ships и several yachts that make trips during the summer. Most tourist trips last approximately two weeks.

Antigua has a relatively high GDP per capita in comparison to most other Caribbean nations. It has experienced solid growth since 2003, driven by a construction boom in hotels и housing that which should wind down in 2008. Tourism continues to dominate the economy, accounting for more than half от ВВП. The dual-island nation's agricultural production is focused on the domestic market и constrained by a limited water supply и a labor shortage stemming from the lure of higher wages in tourism и construction. Manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, и electronic components. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialized world, especially in the US, which accounts for slightly more than один-third of tourist arrivals. Since taking office in 2004, the SPENCER government has adopted an ambitious fiscal reform program, but will continue to be saddled by its debt burden with a debt-to-GDP ratio exceeding 100%.

Аргентина benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, и a diversified industrial base. Although один of the world's wealthiest countries 100 лет ago, Аргентина suffered during most of the 20th century from recurring economic crises, persistent fiscal и current account deficits, high inflation, mounting external debt, и capital flight. A severe depression, growing public и external indebtedness, и a bank run culminated in 2001 in the most serious economic, social, и political crisis in the country's turbulent history. Interim Президент Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, и abruptly resigned only a few days после taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the доллар США in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 и almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 9% annually over the subsequent five лет, taking advantage of previously idled industrial capacity и labor, an audacious debt restructuring и reduced debt burden, excellent international financial conditions, и expansionary monetary и fiscal policies. Inflation, however, reached double-digit levels in 2006 и the government of Президент Nestor KIRCHNER responded with "voluntary" price agreements with businesses, as well as export taxes и restraints. Multi-year price freezes on electricity и природный газ rates for residential users stoked consumption и kept private investment away, leading to restrictions on industrial use и blackouts in 2007.

Since the breakup of the Soviet Union in 1991, Армения has made progress in implementing many economic reforms including privatization, price reforms, и prudent fiscal policies. The conflict with Азербайджан over the ethnic Armenian-dominated region of Nagorno-Karabakh contributed to a severe economic decline in the early 1990s. By 1994, however, the Armenian Правление launched an ambitious IMF-sponsored economic liberalization program that resulted in positive growth rates. Economic growth has averaged over 13% in recent лет. Армения has managed to reduce poverty, slash inflation, stabilize its currency, и privatize most small- и medium-sized enterprises. Under the old Soviet central planning system, Армения developed a modern industrial sector, supplying machine tools, textiles, и other manufactured goods to sister republics, in exchange for raw materials и энергия. Армения has since switched to small-scale agriculture и away from the large agroindustrial complexes of the Soviet era. Nuclear power plants built at Metsamor in the 1970s were closed following the 1988 Spitak Earthquake, though they sustained no damage. One of the two reactors was re-opened in 1995, but the Armenian government is under international pressure to close it due to concerns that the Soviet era design lacks important safeguards. Metsamor provides 40 percent of the country's electricity - hydropower accounts for about один-fourth. Economic ties with Россия remain close, especially in the энергия sector. The electricity distribution system was privatized in 2002 и bought by Россия's RAO-UES in 2005. Construction of a pipeline to deliver природный газ from Иран to Армения is halfway completed и is scheduled to be commissioned by January 2009. Армения has some mineral deposits (медь, золото, боксит). Pig железная руда, unwrought медь, и other nonferrous metals are Армения's highest valued exports. Армения's severe trade imbalance has been offset somewhat by international aid, remittances from Armenians working abroad, и foreign direct investment. Армения joined the WTO in January 2003. The government made some improvements in tax и customs administration in recent лет, but anti-corruption measures will be more difficult to implement. Despite strong economic growth, Армения's unemployment rate remains high. Армения will need to pursue additional economic reforms in order to improve its economic competitiveness и to build on recent improvements in poverty и unemployment, especially given its economic isolation from two of its nearest neighbors, Турция и Азербайджан.

Tourism is the mainstay of the small, open Aruban economy, with offshore banking и нефть refining и storage also important. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 миллионов tourists per year visit Аруба, with 75% of those from the US. Construction continues to boom, with hotel capacity five times the 1985 level. In addition, the country's нефть refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, и growth. Tourist arrivals have rebounded strongly following a dip после the 11 September 2001 attacks. The island experiences only a brief low season, и hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the Caribbean. The government has made cutting the budget и trade deficits a high priority.

Австралия has an enviable, strong economy with a per capita GDP on par with the four dominant West European economies. Robust business и consumer confidence и high export prices for raw materials и продукты сельского хозяйства are fueling the economy, particularly in добыча полезных ископаемых states. Австралия's emphasis on reforms, low inflation, a housing market boom, и growing ties with Китай have been key factors behind the economy's 16 solid лет of expansion. Drought, robust import demand, и a strong currency have pushed the trade deficit up in recent лет, while infrastructure bottlenecks и a tight labor market are constraining growth in export volumes и stoking inflation. Австралия's budget has been in surplus since 2002 due to strong revenue growth.

Австрия, with its well-developed market economy и high standard of living, is closely tied to other EU economies, especially Германия's. The Austrian economy also benefits greatly from strong commercial relations, especially in the banking и insurance sectors, with central, eastern, и southeastern Europe. The economy features a large service sector, a sound industrial sector, и a small, but highly developed agricultural sector. Membership in the EU has drawn an influx of foreign investors attracted by Австрия's access to the single European market и proximity to the new EU economies. The outgoing government has successfully pursued a comprehensive economic reform program, aimed at streamlining government и creating a more competitive business environment, further strengthening Австрия's attractiveness as an investment location. It has implemented принята pension reforms; however, lower taxes in 2005-06 led to a small budget deficit in 2006 и 2007. Boosted by strong exports, growth nevertheless reached 3.3% in both 2006 и 2007, although the economy may slow in 2008 because of the strong euro, high нефть prices, и problems in international financial markets. To meet increased competition - especially from new EU members и Central European countries - Австрия will need to continue restructuring, emphasizing knowledge-based sectors of the economy, и encouraging greater labor flexibility и greater labor participation by its aging population.

Азербайджан's high economic growth in 2006 и 2007 is attributable to large и growing нефть exports. Азербайджан's нефть production declined through 1997, but has registered an increase every year since. Negotiation of production-sharing arrangements (PSAs) with foreign firms, which have committed $60 миллиардов: to long-term oilfield development, should generate the funds needed to spur future industrial development. Oil production under the first of these PSAs, with the Азербайджан Международные Operating Company, began in November 1997. A consortium of Western нефть companies began pumping 1 миллионов barrels a day from a large offshore field in early 2006, through a $4 миллиардов: pipeline it built from Baku to Турция's Mediterranean port of Ceyhan. By 2010 revenues from this project will double the country's current GDP. Азербайджан shares all the formidable problems of the former Soviet republics in making the transition from a command to a market economy, but its considerable энергия resources brighten its long-term prospects. Baku has only recently begun making progress on economic reform, и old economic ties и structures are slowly being replaced. Several other obstacles impede Азербайджан's economic progress: the need for stepped up foreign investment in the non-энергия sector, the continuing conflict with Армения over the Nagorno-Karabakh region, pervasive corruption, и elevated inflation. Trade with Россия и the other former Soviet republics is declining in importance, while trade is building with Турция и the nations of Europe. Long-term prospects will depend on world нефть prices, the location of new нефть и газ pipelines in the region, и Азербайджан's ability to manage its энергия wealth.

The Багамские Острова is один of the wealthiest Caribbean countries with an economy heavily dependent on tourism и offshore banking. Tourism together with tourism-driven construction и обрабатывающая промышленность accounts for approximately 60% от ВВП и directly или indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts и a boom in construction of new hotels, resorts, и residences had led to solid GDP growth in recent лет, but tourist arrivals have been on the decline since 2006. Financial services constitute the second-most important sector of the Bahamian economy и, when combined with business services, account for about 36% от ВВП. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Багамские Острова. Manufacturing и agriculture combined contribute approximately a tenth от ВВП и show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.

With its highly developed communication и transport facilities, Бахрейн is home to numerous multinational firms with business in the Gulf. Petroleum production и refining account for over 60% Бахрейна's export receipts, over 70% of government revenues, и 11% от ВВП (exclusive of allied industries), underpinning Бахрейн's strong economic growth in recent лет. Aluminum is Бахрейн's second major export после нефть. Other major segments Бахрейна's economy are the financial и construction sectors. Бахрейн is focused on Islamic banking и is competing on an international scale with Малазия as a worldwide banking center. Бахрейн is actively pursuing the diversification и privatization of its economy to reduce the country's dependence on нефть. As part of this effort, in August 2006 Бахрейн и the US implemented a Free Trade Agreement (FTA), the first FTA between the US и a Gulf state. Continued strong growth hinges on Бахрейн's ability to acquire new природный газ supplies as feedstock to support its expanding petrochemical и aluminum industries. Unemployment, especially among the young, и the depletion of нефть и underground water resources are long-term economic problems.

The economy has grown 5-6% over the past few лет despite inefficient state-owned enterprises, delays in exploiting природный газ resources, insufficient power supplies, и slow implementation of economic reforms. Бангладеш remains a poor, overpopulated, и inefficiently-governed nation. Although more than half от ВВП is generated through the service sector, nearly two-thirds of Bangladeshis are employed in the agriculture sector, with рис as the single-most-important product. Garment exports и remittances from Bangladeshis working overseas, mainly in the Middle East и East Азия, fuel economic growth.

Historically, the Barbadian economy was dependent on sugarcane cultivation и related activities. However, production in recent лет has diversified into light industry и tourism, with about three-quarters от ВВП и 80% of exports being attributed to services. Growth has rebounded since 2003, bolstered by increases in construction projects и tourism revenues - reflecting its success in the higher-end segment. The country enjoys один of the highest per capita incomes in the region и an investment grade rating which benefits from its political stability и stable institutions. Offshore finance и information services are important foreign exchange earners и thrive from having the same time zone as eastern US financial centers и a relatively highly educated workforce. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, и to privatize remaining state-owned enterprises.

Беларусь has seen little structural reform since 1995, when Президент LUKASHENKO launched the country on the path of "market socialism." In keeping with this policy, LUKASHENKO reimposed administrative controls over prices и currency exchange rates и expanded the state's right to intervene in the management of private enterprises. Since 2005, the government has re-nationalized a number of private companies. In addition, businesses have been subject to pressure by central и local governments, e.g., arbitrary changes in regulations, numerous rigorous inspections, retroactive application of new business regulations, и arrests of "disruptive" businessmen и factory owners. A wide range of redistributive policies has helped those at the bottom of the ladder; the Gini coefficient is among the lowest in the world. Because of these restrictive economic policies, Беларусь has had trouble attracting foreign investment. Nevertheless, GDP growth has been strong in recent лет, reaching nearly 7% in 2007, despite the roadblocks of a tough, centrally directed economy with a high, but decreasing, rate of inflation. Беларусь receives heavily discounted нефть и природный газ from Россия и much Беларуси' growth can be attributed to the re-export of Russian нефть at market prices. Trade with Россия - by far its largest single trade partner - decreased in 2007, largely as a result of a change in the way the Value Added Tax (VAT) on trade was collected. Россия has introduced an export duty on нефть shipped to Беларусь, which will increase gradually through 2009, и a requirement that Belarusian duties on re-exported Russian нефть be shared with Россия - 80% will go to Россия in 2008, и 85% in 2009. Россия also increased Belarusian природный газ prices from $47 per thousand кубические метры (tcm) to $100 per tcm in 2007, и plans to increase prices gradually to world levels by 2011. Россия's recent policy of bringing энергия prices for Беларусь to world market levels may result in a slowdown in economic growth in Беларусь over the next few лет. Some policy measures, including tightening of fiscal и monetary policies, improving энергия efficiency, и diversifying exports, have been introduced, but external borrowing has been the main mechanism used to manage the growing pressures on the economy.

This modern, private-enterprise economy has capitalized on its central geographic location, highly developed transport network, и diversified industrial и commercial base. Industry is concentrated mainly in the populous Flemish area in the север. With few natural resources, Бельгия must import substantial quantities of raw materials и export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly three-quarters of its trade is with other EU countries. Public debt is more than 85% от ВВП. On the positive side, the government has succeeded in balancing its budget, и income distribution is relatively equal. Бельгия began circulating the euro currency in January 2002. Economic growth in 2001-03 dropped sharply because of the global economic slowdown, with moderate recovery in 2004-07. Economic growth и foreign direct investment are expected to slow down in 2008, due to credit tightening, falling consumer и business confidence, и above average inflation. However, with the successful negotiation of the 2008 budget и devolution of power within the government, political tensions seem to be easing и could свинец to an improvement in the economic outlook for 2008.

In this small, essentially private-enterprise economy, tourism is the number один foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, и garments. The government's expansionary monetary и fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999-2007. Oil discoveries in 2006 bolstered the economic growth in 2006 и 2007. Major concerns continue to be the sizable trade deficit и unsustainable foreign debt. In February 2007, the government restructured nearly all of its public external commercial debt, which will reduce interest payments и relieve liquidity concerns. A key short-term objective remains the reduction of poverty with the help of international donors.

The economy Бенина remains underdeveloped и dependent on subsistence agriculture, хлопок production, и regional trade. Growth in real output has averaged around 5% in the past seven лет, but rapid population growth has offset much of this increase. Inflation has subsided over the past several лет. In order to raise growth still further, Бенин plans to attract more foreign investment, place more emphasis on tourism, facilitate the development of new пищевая промышленность systems и продукты сельского хозяйства, и encourage new information и communication technology. Specific projects to improve the business climate by reforms to the land tenure system, the commercial justice system, и the financial sector were included in Бенин's $307 миллионов Millennium Challenge Account grant signed in February 2006. The 2001 privatization policy continues in телекоммуникации, water, electricity, и agriculture though the government annulled the privatization Бенина's state хлопок company in November 2007 после the discovery of irregularities in the bidding process. The Paris Club и bilateral creditors have eased the external debt situation, with Бенин benefiting from a G8 debt reduction announced in July 2005, while pressing for more rapid structural reforms. An insufficient electrical supply continues to adversely affect Бенин's economic growth though the government recently has taken steps to increase domestic power production.

Бермуды enjoys the third highest per capita income in the world, more than 50% higher than that of the US. Its economy is primarily based on providing financial services for international business и luxury facilities for tourists. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks и again после Hurricane Katrina in August 2005, contributing to the expansion of an already robust international business sector. Бермуды's tourism industry - which derives over 80% of its visitors from the US - continues to struggle but remains the island's number two industry. Most capital equipment и food must be imported. Бермуды's industrial sector is small, although construction continues to be important; the average cost of a house in June 2003 had risen to $976,000. Agriculture is limited with only 20% of the land being arable.

The economy, один of the world's smallest и least developed, is based on agriculture и лесоводство, which provide the main livelihood for more than 60% of the population. Agriculture consists largely of subsistence фермерство и animal husbandry. Rugged mountains dominate the terrain и make the building of roads и other infrastructure difficult и expensive. The economy is closely aligned with Индия's through strong trade и monetary links и dependence on Индия's financial assistance. The industrial sector is technologically backward, with most production of the cottage industry type. Most development projects, such as road construction, rely on Indian migrant labor. Model education, social, и environment programs are underway with support from multilateral development organizations. Each economic program takes into account the government's desire to protect the country's environment и cultural traditions. For example, the government, in its cautious expansion of the tourist sector, encourages visits by upscale, environmentally conscientious tourists. Detailed controls и uncertain policies in areas such as industrial licensing, trade, labor, и finance continue to hamper foreign investment. Hydropower exports to Индия had a major impact on growth in 2007.

Боливия is один of the poorest и least developed countries in Latin America. Following a disastrous economic crisis during the early 1980s, reforms spurred private investment, stimulated economic growth, и cut poverty rates in the 1990s. The period 2003-05 was characterized by political instability, racial tensions, и violent protests against plans - subsequently abandoned - to export Боливия's newly discovered природный газ reserves to large northern hemisphere markets. In 2005, the government passed a controversial hydrocarbons law that imposed significantly higher royalties и required foreign firms then operating under risk-sharing contracts to surrender all production to the state энергия company, which was made the sole exporter of природный газ. The law also required that the state энергия company regain control over the five companies that were privatized during the 1990s - a process that is still underway. In 2006, higher earnings for добыча полезных ископаемых и hydrocarbons exports pushed the current account surplus to about 12% от ВВП и the government's higher tax take produced a fiscal surplus после лет of large deficits. Debt relief from the G8 - announced in 2005 - also has significantly reduced Боливия's public sector debt burden. Private investment as a share от ВВП, however, remains among the lowest in Latin America, и inflation reached double-digit levels in 2007.

Босния и Герцеговина ranked next to Македония as the poorest republic in the old Yugoslav федерация. Although agriculture is almost all in private hands, farms are small и inefficient, и the republic traditionally is a net importer of food. The private sector is growing и foreign investment is slowly increasing, but government spending, at nearly 40% of adjusted GDP, remains unreasonably high. The interethnic warfare in Bosnia caused production to plummet by 80% from 1992 to 1995 и unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-07 when GDP growth exceeded 5% per year. National-level statistics are limited и do not capture the large share of черные market activity. The konvertibilna marka (convertible mark или BAM)- the national currency introduced in 1998 - is pegged to the euro, и confidence in the currency и the banking sector has increased. Implementing privatization, however, has been slow, particularly in the Federation, although more successful in the Republika Srpska. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Western Europe, now control most of the banking sector. A sizeable current account deficit и high unemployment rate remain the two most serious macroeconomic problems. On 1 January 2006 a new value-added tax (VAT) went into effect. The VAT has been successful in capturing much of the gray market economy и has developed into a significant и predictable source of revenues for all layers of government. Босния и Герцеговина became a full member of the Central European Free Trade Agreement in September 2007. The country receives substantial reconstruction assistance и humanitarian aid from the international community but will have to prepare for an era of declining assistance.

Ботсвана has maintained один of the world's highest economic growth rates since independence in 1966, though growth slowed to 4.7% annually in 2006-07. Through fiscal discipline и sound management, Ботсвана has transformed itself from один of the poorest countries in the world to a middle-income country with a per capita GDP of nearly $15,000 in 2007. Two major investment services rank Ботсвана as the best credit risk in Africa. Diamond добыча полезных ископаемых has fueled much of the expansion и currently accounts for more than один-third от ВВП и for 70-80% of export earnings. Tourism, financial services, subsistence фермерство, и cattle raising are other key sectors. On the downside, the government must deal with high rates of unemployment и poverty. Unemployment officially was 23.8% in 2004, but unofficial estimates place it closer to 40%. HIV/AIDS infection rates are the second highest in the world и threaten Ботсвана's impressive economic gains. An expected leveling off in diamond добыча полезных ископаемых production overshadows long-term prospects.

Characterized by large и well-developed agricultural, добыча полезных ископаемых, обрабатывающая промышленность, и service sectors, Бразилия's economy outweighs that of all other South American countries и is expanding its presence in world markets. Having weathered 2001-03 financial turmoil, capital inflows are regaining strength и the currency has resumed appreciating. The appreciation has slowed export volume growth, but since 2004, Бразилия's growth has yielded increases in employment и real wages. The resilience in the economy stems from commodity-driven current account surpluses, и sound macroeconomic policies that have bolstered international reserves to historically high levels, reduced public debt, и allowed a significant decline in real interest rates. A floating exchange rate, an inflation-targeting regime, и a tight fiscal policy are the three pillars of the economic program. From 2003 to 2007, Бразилия ran record trade surpluses и recorded its first current account surpluses since 1992. Productivity gains coupled with high commodity prices contributed to the surge in exports. Бразилия improved its debt profile in 2006 by shifting its debt burden toward real denominated и domestically held instruments. LULA DA SILVA restated his commitment to fiscal responsibility by maintaining the country's primary surplus during the 2006 election. Following his second inauguration, LULA DA SILVA announced a package of further economic reforms to reduce taxes и increase investment in infrastructure. The government's goal of achieving strong growth while reducing the debt burden is likely to create inflationary pressures.

All economic activity is concentrated on the largest island of Diego Garcia, where a joint Великобритания-US military facility is located. Construction projects и various services needed to support the military installation are performed by military и contract employees from the Великобритания, Маврикий, the Филиппины, и the US. There are no industrial или agricultural activities on the islands. When the native Ilois return, they plan to reestablish sugarcane production и рыболовство. The territory earns foreign exchange by selling рыболовство licenses и postage stamps.

The economy, один of the most stable и prosperous in the Caribbean, is highly dependent on tourism, generating an estimated 45% of the national income. An estimated 820,000 tourists, mainly from the US, visited the islands in 2005. In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, и incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by yearend 2000. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the Британские Виргинские острова even more attractive to international business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Виргинские Острова (Британские) , the Британские Виргинские острова has used the доллар США as its currency since 1959.

Бруней has a small well-to-do economy that encompasses a mixture of foreign и domestic entrepreneurship, government regulation, welfare measures, и village tradition. Crude нефть и природный газ production account for just over half от ВВП и more than 90% of exports. Per capita GDP is among the highest in Азия, и substantial income from overseas investment supplements income from domestic production. The government provides for all medical services и free education through the university level и subsidizes рис и housing. Бруней's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion. Plans for the future include upgrading the labor force, reducing unemployment, strengthening the banking и tourist sectors, и, in general, further widening the economic base beyond нефть и газ.

Болгария, a former communist country that entered the EU on 1 January 2007, has experienced strong growth since a major economic downturn in 1996. Successive governments have demonstrated commitment to economic reforms и responsible fiscal planning, but have failed so far to rein in rising inflation и large current account deficits. Болгария has averaged more than 6% growth since 2004, attracting significant amounts of foreign direct investment, but corruption in the public administration, a weak judiciary, и the presence of organized crime remain significant challenges.

One of the poorest countries in the world, landlocked Буркина Фасо has few natural resources и a weak industrial base. About 90% of the population is engaged in subsistence agriculture, which is vulnerable to periodic drought. Cotton is the main cash crop и the government has joined with three other хлопок producing countries in the region - Мали, Нигер, и Чад - to lobby in the Мир Trade Organization for fewer subsidies to producers in other competing countries. Since 1998, Буркина Фасо has embarked upon a gradual but successful privatization of state-owned enterprises. Having revised its investment code in 2004, Буркина Фасо hopes to attract foreign investors. Thanks to this new code и other legislation favoring the добыча полезных ископаемых sector, the country has seen an upswing in золото exploration и production. While the bitter internal crisis in neighboring Кот-д’Ивуар is beginning to be resolved, it is still having a negative effect on Буркина Фасо's trade и employment. In 2007 higher costs for энергия и imported foodstuffs, as well as low хлопок prices, dampened a GDP growth rate that had averaged 6% in the last 10 лет. Буркина Фасо received a Millennium Challenge Account threshold grant to improve girls' education at the primary school level, и appears likely to receive a grant in the areas of infrastructure, agriculture, и land reform.

Мьянма, a resource-rich country, suffers from pervasive government controls, inefficient economic policies, и rural poverty. The junta took steps in the early 1990s to liberalize the economy после decades of failure under the "Burmese Way to Socialism," but those efforts stalled, и some of the liberalization measures were rescinded. Despite Мьянма's increasing нефть и газ revenue, socio-economic conditions have deteriorated due to the regime's mismanagement of the economy. Lacking monetary или fiscal stability, the economy suffers from serious macroeconomic imbalances - including rising inflation, fiscal deficits, multiple official exchange rates that overvalue the Burmese kyat, a distorted interest rate regime, unreliable statistics, и an inability to reconcile national accounts to determine a realistic GDP figure. Most overseas development assistance ceased после the junta began to suppress the democracy movement in 1988 и subsequently refused to honor the results of the 1990 legislative elections. In response to the government Мьянмы's attack in May 2003 on AUNG SAN SUU KYI и her convoy, the US imposed new economic sanctions in August 2003 including a ban on imports of Burmese products и a ban on provision of financial services by US persons. Further, a poor investment climate hampers attracting outside investment slowing the inflow of foreign exchange. The most productive sectors will continue to be in extractive industries, especially нефть и газ, добыча полезных ископаемых, и леса with the latter especially causing environmental degradation. Other areas, such as обрабатывающая промышленность и services, are struggling with inadequate infrastructure, unpredictable import/export policies, deteriorating health и education systems, и endemic corruption. A major banking crisis in 2003 shuttered the country's 20 private banks и disrupted the economy. As of 2007, the largest private banks operated under tight restrictions limiting the private sector's access to formal credit. Moreover, the September 2007 crackdown on prodemocracy demonstrators, including thousands of monks, further strained the economy as the tourism industry, which directly employs about 500,000 people, suffered dramatic declines in foreign visitor levels. In November 2007, the Европейское сообщество announced new sanctions banning investment и trade in Burmese gems, леса и precious stones, while the США expanded its sanctions list to include more Burmese government и military officials и their family members, as well as prominent regime business cronies, their family members, и associated companies. Official statistics are inaccurate. Published statistics on foreign trade are greatly understated because of the size of the черные market и unofficial border trade - often estimated to be as large as the official economy. Though the Burmese government has good economic relations with its neighbors, better investment и business climates и an improved political situation are needed to promote serious foreign investment, exports, и tourism.

Бурунди is a landlocked, resource-poor country with an underdeveloped обрабатывающая промышленность sector. The economy is predominantly agricultural with more than 90% of the population dependent on subsistence agriculture. Economic growth depends on coffee и tea exports, which account for 90% of foreign exchange earnings. The ability to pay for imports, therefore, rests primarily on weather conditions и international coffee и tea prices. The Tutsi minority, 14% of the population, dominates the government и the coffee trade at the expense of the Hutu majority, 85% of the population. An ethnic-based war that lasted for over a decade resulted in more than 200,000 deaths, forced more than 48,000 беженцы into Танзания, и displaced 140,000 others internally. Only один in two children go to school, и approximately один in 15 adults has HIV/AIDS. Food, medicine, и electricity remain in short supply. Бурунди's GDP grew around 5% annually in 2006-07. Political stability и the end of the civil war have improved aid flows и economic activity has increased, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, и low administrative capacity - risk undermining planned economic reforms. Бурунди will continue to remain heavily dependent on aid from bilateral и multilateral donors; the delay of funds после a corruption scandal cut off bilateral aid in 2007 reduced government's revenues и its ability to pay salaries.

From 2001 to 2004, the economy grew at an average rate of 6.4%, driven largely by an expansion in the garment sector и tourism. The US и Камбоджа signed a Bilateral Textile Agreement, which gave Камбоджа a guaranteed quota of US textile imports и established a bonus for improving working conditions и enforcing Cambodian labor laws и international labor standards in the industry. With the January 2005 expiration of a WTO Agreement on Textiles и Clothing, Камбоджа-based textile producers were forced to compete directly with lower-priced producing countries such as Китай и Индия. Better-than-expected garment sector performance led to more than 9% growth in 2007. Its vibrant garment industry employs more than 350,000 people и contributes more than 70% Камбоджи's exports. The Cambodian government has committed itself to a policy supporting high labor standards in an attempt to maintain buyer interest. In 2005, exploitable нефть и природный газ deposits were found beneath Камбоджа's territorial waters, representing a new revenue stream for the government if commercial добывающая промышленность begins. Mining also is attracting significant investor interest, particularly in the northeastern parts of the country, и the government has said opportunities exist for добыча полезных ископаемых боксит, золото, железная руда и gems. In 2006, a US-Камбоджа bilateral Trade и Investment Framework Agreement (TIFA) was signed и the first round of discussions took place in early 2007. The tourism industry continues to grow rapidly, with foreign arrivals reaching 2 миллионов in 2007. In 2007 the government signed a joint venture agreement with two companies to form a new national airline. The long-term development of the economy remains a daunting challenge. The Cambodian government is working with bilateral и multilateral donors, including the Мир Bank и IMF, to address the country's many pressing needs. The major economic challenge for Камбоджа over the next decade will be fashioning an economic environment in which the private sector can create enough jobs to handle Камбоджа's demographic imbalance. More than 50% of the population is less than 21 лет old. The population lacks education и productive skills, particularly in the poverty-ridden countryside, which suffers from an almost total lack of basic infrastructure.

Because of its modest нефть resources и favorable agricultural conditions, Камерун has один of the best-endowed primary commodity economies in sub-Saharan Africa. Still, it faces many of the serious problems facing other underdeveloped countries, such as a top-heavy civil service и a generally unfavorable climate for business enterprise. Since 1990, the government has embarked on various IMF и Мир Bank programs designed to spur business investment, increase efficiency in agriculture, improve trade, и recapitalize the nation's banks. In June 2000, the government completed an IMF-sponsored, three-year structural adjustment program; however, the IMF is pressing for more reforms, including increased budget transparency, privatization, и poverty reduction programs. In January 2001, the Paris Club agreed to reduce Камерун 's debt of $1.3 миллиардов: by $900 миллионов; debt relief now totals $1.26 миллиардов:. Международные нефть и cocoa prices have a significant impact on the economy.

As an affluent, high-tech industrial society in the триллионов-dollar class, Канада resembles the US in its market-oriented economic system, pattern of production, и affluent living standards. Since Мир War II, the impressive growth of the обрабатывающая промышленность, добыча полезных ископаемых, и service sectors has transformed the nation from a largely rural economy into один primarily industrial и urban. The 1989 US-Канада Free Trade Agreement (FTA) и the 1994 Северный American Free Trade Agreement (NAFTA) (which включая Мексика) touched off a dramatic increase in trade и economic integration with the US. Given its great natural resources, skilled labor force, и modern capital plant, Канада enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canadian provinces. Exports account for roughly a third от ВВП. Канада enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canadian exports each year. Канада is the US's largest foreign supplier of энергия, including нефть, газ, уран, и electric power. During 2007, Канада enjoyed good economic growth, moderate inflation, и the lowest unemployment rate in more than three decades.

This island economy suffers from a poor natural resource base, including serious water shortages exacerbated by cycles of long-term drought. The economy is service-oriented, with commerce, transport, tourism, и public services accounting for about three-fourths от ВВП. Although nearly 70% of the population lives in rural areas, the share of food production in GDP is low. About 82% of food must be imported. The рыболовство potential, mostly lobster и tuna, is not fully exploited. Кабо-Верде annually runs a high trade deficit, financed by foreign aid и remittances from emigrants; remittances supplement GDP by more than 20%. Economic reforms are aimed at developing the private sector и attracting foreign investment to diversify the economy. Future prospects depend heavily on the maintenance of aid flows, the encouragement of tourism, remittances, и the momentum of the government's development program. Кабо-Верде became a member of the WTO in July 2008.

With no direct taxation, the islands are a thriving offshore financial center. More than 68,000 companies were registered in the Каймановы Острoва as of 2003, including almost 500 banks, 800 insurers, и 5,000 mutual funds. A stock exchange was opened in 1997. Tourism is also a mainstay, accounting for about 70% от ВВП и 75% of foreign currency earnings. The tourist industry is aimed at the luxury market и caters mainly to visitors from Северная Америка. Total tourist arrivals exceeded 2.1 миллионов in 2003, with about half from the US. About 90% of the islands' food и товары народного потребления must be imported. The Caymanians enjoy один of the highest outputs per capita и один of the highest standards of living in the world.

Subsistence agriculture, together with лесоводство, remains the backbone of the economy of the Центральноафриканская Республика (CAR), with more than 70% of the population living in outlying areas. The agricultural sector generates more than half от ВВП. Timber has accounted for about 16% of export earnings и the diamond industry, for 40%. Important constraints to economic development include the CAR's landlocked position, a poor транспорт system, a largely unskilled work force, и a legacy of misdirected macroeconomic policies. Factional fighting between the government и its opponents remains a drag on economic revitalization. Distribution of income is extraordinarily unequal. Grants from Франция и the international community can only partially meet humanitarian needs.

Чад 's primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the нефть sector that began in 2000. At least 80% Чада's population relies on subsistence фермерство и livestock raising for its livelihood. Чад 's economy has long been handicapped by its landlocked position, high энергия costs, и a history of instability. Чад relies on foreign assistance и foreign capital for most public и private sector investment projects. A consortium led by two US companies has been investing $3.7 миллиардов: to develop нефть reserves - estimated at 1 миллиардов: barrels - in southern Чад . Chinese companies are also expanding exploration efforts и plan to build a refinery. The nation's total нефть reserves have been estimated to be 1.5 миллиардов: barrels. Oil production came on stream in late 2003. Чад began to export нефть in 2004. Cotton, cattle, и gum arabic provide the bulk Чада's non-нефть export earnings.

Чили has a market-oriented economy characterized by a high level of foreign trade. During the early 1990s, Чили's reputation as a role model for economic reform was strengthened when the democratic government of Patricio AYLWIN - which took over from the military in 1990 - deepened the economic reform initiated by the military government. Growth in real GDP averaged 8% during 1991-97, but fell to half that level in 1998 because of tight monetary policies implemented to keep the current account deficit in check и because of lower export earnings - the latter a product of the global financial crisis. A severe drought exacerbated the recession in 1999, reducing crop yields и causing hydroelectric shortfalls и electricity rationing, и Чили experienced negative economic growth for the first time in more than 15 лет. Despite the effects of the recession, Чили maintained its reputation for strong financial institutions и sound policy that have given it the strongest sovereign bond rating in South America. Between 2000 и 2007 growth ranged between 2%-6%. Throughout these лет Чили maintained a low rate of inflation with GDP growth coming from high медь prices, solid export earnings (particularly лесоводство, рыболовство, и добыча полезных ископаемых), и growing domestic consumption. Президент BACHELET in 2006 established an Economic и Social Stabilization Fund to hold excess медь revenues so that social spending can be maintained during periods of медь shortfalls. This fund probably surpassed $20 миллиардов: at the end of 2007. Чили continues to attract foreign direct investment, but most foreign investment goes into газ, water, electricity и добыча полезных ископаемых. Unemployment has exhibited a downward trend over the past two лет, dropping to 7.8% и 7.0% at the end of 2006 и 2007, respectively. Чили deepened its longstanding commitment to trade liberalization with the signing of a free trade agreement with the US, which took effect on 1 January 2004. Чили claims to have more bilateral или regional trade agreements than any other country. It has 57 such agreements (not all of them full free trade agreements), including with the Европейское сообщество, Mercosur, Китай, Индия, South Korea, и Мексика.

Китай's economy during the last quarter century has changed from a centrally planned system that was largely closed to international trade to a more market-oriented economy that has a rapidly growing private sector и is a major player in the global economy. Reforms started in the late 1970s with the phasing out of collectivized agriculture, и expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, и the opening to foreign trade и investment. Китай has generally implemented reforms in a gradualist или piecemeal fashion, including the sale of minority shares in four Китая's largest state banks to foreign investors и refinements in foreign exchange и bond markets in 2005. After keeping its currency tightly linked to the доллар США for лет, Китай in July 2005 revalued its currency by 2.1% against the доллар США и moved to an exchange rate system that references a basket of currencies. Cumulative appreciation of the renminbi against the доллар США since the end of the dollar peg reached 15% in January 2008. The restructuring of the economy и resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis, Китай in 2007 stood as the second-largest economy in the world после the US, although in per capita terms the country is still lower middle-income. Annual inflows of foreign direct investment in 2007 rose to $75 миллиардов:. By the end of 2007, more than 5,000 domestic Chinese enterprises had established direct investments in 172 countries и regions around the world. The Chinese government faces several economic development challenges: (a) to sustain adequate job growth for tens of millions of workers laid off from state-owned enterprises, migrants, и new entrants to the work force; (b) to reduce corruption и other economic crimes; и (c) to contain environmental damage и social strife related to the economy's rapid transformation. Economic development has been more rapid in coastal provinces than in the interior, и approximately 200 миллионов rural laborers have relocated to urban areas to find work. One demographic consequence of the "один child" policy is that Китай is now один of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, и the steady fall of the water table, especially in the север - is another long-term problem. Китай continues to lose пахотные земли because of erosion и economic development. In 2007 Китай intensified government efforts to improve environmental conditions, tying the evaluation of local officials to environmental targets, publishing a national climate change policy, и establishing a high level leading group on climate change, headed by Premier WEN Jiabao. The Chinese government seeks to add энергия production capacity from sources other than каменный уголь и нефть as its double-digit economic growth increases demand. Chinese энергия officials in 2007 agreed to purchase five third generation nuclear reactors from Western companies. More power generating capacity came on line in 2006 as large scale investments - including the Three Gorges Dam across the Yangtze River - were completed.

Phosphate добыча полезных ископаемых had been the only significant economic activity, but in December 1987 the Australian Правление closed the mine. In 1991, the mine was reopened. With the support of the government, a $34 миллионов casino opened in 1993, but closed in 1998. The Australian Правление in 2001 agreed to support the creation of a commercial space-launching site on the island, expected to begin operations in the near future.

Grown throughout the islands, coconuts are the sole cash crop. Small local gardens и рыболовство contribute to the food supply, but additional food и most other necessities must be imported from Австралия. There is a small tourist industry.

Колумбия's economy has experienced positive growth over the past five лет despite a serious armed conflict. In fact, 2007 is regarded by policy makers и the private sector as один of the best economic лет in recent history, после 2005. The economy continues to improve in part because of austere government budgets, focused efforts to reduce public debt levels, an export-oriented growth strategy, improved domestic security, и high commodity prices. Ongoing economic problems facing Президент URIBE include reforming the pension system, reducing high unemployment, и funding new exploration to offset declining нефть production. The government's economic reforms и democratic security strategy, coupled with increased investment, have engendered a growing sense of confidence in the economy. However, the business sector continues to be concerned about failure of the US Congress to approve the signed FTA.

One of the world's poorest countries, Коморские Острова is made up of three islands that have inadequate транспорт links, a young и rapidly increasing population, и few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, и a heavy dependence on foreign grants и технический персонал assistance. Agriculture, including рыболовство, hunting, и лесоводство, contributes 40% to GDP, employs 80% of the labor force, и provides most of the exports. The country is not self-sufficient in food production; рис, the main staple, accounts for the bulk of imports. The government - which is hampered by internal political disputes - is struggling to upgrade education и технический персонал training, privatize commercial и industrial enterprises, improve health services, diversify exports, promote tourism, и reduce the high population growth rate. The political problems caused the economy to contract in 2007. Remittances from 150,000 Comorans abroad help supplement GDP.

The economy of the Democratic Республика the Congo - a nation endowed with vast potential wealth - is slowly recovering from two decades of decline. Conflict, which began in August 1998, dramatically reduced national output и government revenue, increased external debt, и resulted in the deaths of more than 3.5 миллионов people from violence, famine, и disease. Foreign businesses curtailed operations due to uncertainty about the outcome of the conflict, lack of infrastructure, и the difficult operating environment. Conditions began to improve in late 2002 with the withdrawal of a large portion of the invading foreign troops. The transitional government reopened relations with international financial institutions и international donors, и Президент KABILA has begun implementing reforms, although progress is slow и the Международные Monetary Fund curtailed their program for the DRC at the end of March 2006 because of fiscal overruns. Much economic activity still occurs in the informal sector, и is not reflected in GDP data. Renewed activity in the добыча полезных ископаемых sector, the source of most export income, boosted Kinshasa's fiscal position и GDP growth. Правление reforms и improved security may свинец to increased government revenues, outside budget assistance, и foreign direct investment, although an uncertain legal framework, corruption, и a lack of transparency in government policy are continuing long-term problems.

The economy is a mixture of subsistance agriculture, an industrial sector based largely on нефть, и support services, и a government characterized by budget problems и overstaffing. Oil has supplanted лесоводство as the mainstay of the economy, providing a major share of government revenues и exports. In the early 1980s, rapidly rising нефть revenues enabled the government to finance large-scale development projects with GDP growth averaging 5% annually, один of the highest rates in Africa. The government has mortgaged a substantial portion of its нефть earnings through нефть-backed loans that have contributed to a growing debt burden и chronic revenue shortfalls. Economic reform efforts have been undertaken with the support of international organizations, notably the Мир Bank и the IMF. However, the reform program came to a halt in June 1997 when civil war erupted. Denis SASSOU-NGUESSO, who returned to power when the war ended in October 1997, publicly expressed interest in moving forward on economic reforms и privatization и in renewing cooperation with international financial institutions. Economic progress was badly hurt by slumping нефть prices и the resumption of armed conflict in December 1998, which worsened the republic's budget deficit. The current administration presides over an uneasy internal peace и faces difficult economic challenges of stimulating recovery и reducing poverty. Recovery of нефть prices has boosted the economy's GDP и near-term prospects. In March 2006, the Мир Bank и the Международные Monetary Fund (IMF) approved Heavily Indebted Poor Countries (HIPC) treatment for Congo.

Like many other South Pacific island nations, the Острова Кука' economic development is hindered by the isolation of the country from foreign markets, the limited size of domestic markets, lack of natural resources, periodic devastation from natural disasters, и inadequate infrastructure. Agriculture, employing about один-third of the working population, provides the economic base with major exports made up of copra и citrus fruit. Black pearls are the Острова Кука' leading export. Manufacturing activities are limited to fruit processing, одежда, и handicrafts. Trade deficits are offset by remittances from emigrants и by foreign aid, overwhelmingly from Новая Зеландия. In the 1980s и 1990s, the country lived beyond its means, maintaining a bloated public service и accumulating a large foreign debt. Subsequent reforms, including the sale of state assets, the strengthening of economic management, the encouragement of tourism, и a debt restructuring agreement, have rekindled investment и growth.

Коста-Рика's basically stable economy depends on tourism, agriculture, и производство электроники exports. Poverty has remained around 20% for nearly 20 лет, и the strong social safety net that had been put into place by the government has eroded due to increased financial constraints on government expenditures. Immigration from Никарагуа has increasingly become a concern for the government. The estimated 300,000-500,000 Nicaraguans estimated to be in Коста-Рика legally и illegally are an important source of (mostly unskilled) labor, but also place heavy demands on the social welfare system. Foreign investors remain attracted by the country's political stability и high education levels, as well as the fiscal incentives offered in the free-trade zones. Exports have become more diversified in the past 10 лет due to the growth of the high-tech обрабатывающая промышленность sector, which is dominated by the microprocessor industry. Tourism continues to bring in foreign exchange, as Коста-Рика's impressive biodiversity makes it a key destination for ecotourism. The government continues to grapple with its large internal и external deficits и sizable internal debt. Reducing inflation remains a difficult problem because of rising import prices, labor market rigidities, и fiscal deficits. Tax и public expenditure reforms will be necessary to close the budget gap. In October 2007, a national referendum voted in favor of the US-Central American Free Trade Agreement (CAFTA).

Кот-д’Ивуар is the world's largest producer и exporter of cocoa beans и a significant producer и exporter of coffee и palm нефть. Consequently, the economy is highly sensitive to fluctuations in international prices for these products, и, to a lesser extent, in climatic conditions. Despite government attempts to diversify the economy, it is still heavily dependent on agriculture и related activities, engaging roughly 68% of the population. Since 2006, нефть и газ production have become more important engines of economic activity than cocoa. According to IMF statistics, earnings from нефть и очищенные продукты were $1.3 миллиардов: in 2006, while cocoa-related revenues were $1 миллиардов: during the same period. Кот-д’Ивуар's offshore нефть и газ production has resulted in substantial сырая нефть exports и provides sufficient природный газ to fuel electricity exports to Гана, Того, Бенин, Мали и Буркина Фасо. Oil exploration by a number of consortiums of private companies continues offshore, и Президент GBAGBO has expressed hope that daily crude output could reach 200,000 barrels per day (b/d) by the end of the decade. Since the end of the civil war in 2003, political turmoil has continued to damage the economy, resulting in the loss of foreign investment и slow economic growth. GDP grew by 1.8% in 2006 и 1.7% in 2007. Per capita income has declined by 15% since 1999.

Once один of the wealthiest of the Yugoslav republics, Хорватия's economy suffered badly during the 1991-95 war as output collapsed и the country missed the early waves of investment in Central и Eastern Europe that followed the fall of the Berlin Wall. Since 2000, however, Хорватия's economic fortunes have begun to improve slowly, with moderate but steady GDP growth between 4% и 6% led by a rebound in tourism и credit-driven consumer spending. Inflation over the same period has remained tame и the currency, the kuna, stable. Nevertheless, difficult problems still remain, including a stubbornly high unemployment rate, a growing trade deficit и uneven regional development. The state retains a large role in the economy, as privatization efforts often meet stiff public и political resistance. While macroeconomic stabilization has largely been achieved, structural reforms lag because of deep resistance on the part of the public и lack of strong support from politicians. The EU accession process should accelerate fiscal и structural reform.

The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency и alleviate serious shortages of food, товары народного потребления, и services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid и domestic inefficiencies. Since late 2000, Венесуэлa has been providing нефть on preferential terms, и it currently supplies about 100,000 barrels per day of нефтяные продукты. Куба has been paying for the нефть, in part, with the services of Cuban personnel in Венесуэлa, including some 20,000 medical professionals. In 2007, high metals prices continued to boost Cuban earnings from никель и cobalt production. Havana continued to invest in the country's энергия sector to mitigate electrical blackouts that had plagued the country since 2004.

The area of the Республика Кипр under government control has a market economy dominated by the service sector, which accounts for 78% от ВВП. Tourism, financial services, и real estate are the most important sectors. Erratic growth rates over the past decade reflect the economy's reliance on tourism, which often fluctuates with political instability in the region и economic conditions in Western Europe. Nevertheless, the economy in the area under government control grew by an average of 3.6% per year during the period of 2000-06, well above the EU average. Кипр joined the European Exchange Rate Mechanism (ERM2) in May 2005 и adopted the euro as its national currency on 1 January 2008. An aggressive austerity program in the preceeding лет, aimed at paving the way for the euro, helped turn a soaring fiscal deficit (6.3% in 2003) into a surplus of 1.5% in 2007. As in the area administered by Turkish Cypriots, water shortages are a perennial problem; a few desalination plants are now on line. After 10 лет of drought, the country received substantial rainfall from 2001-04 alleviating immediate concerns. Rainfall in 2005 и 2006, however, was well below average, making water rationing a necessity in 2007.

The Чешская республика is один of the most stable и prosperous of the post-Communist states of Central и Eastern Europe. Growth in 2000-07 was supported by exports to the EU, primarily to Германия, и a strong recovery of foreign и domestic investment. Domestic demand is playing an ever more important role in underpinning growth as the availability of credit cards и mortgages increases. The current account deficit has declined to around 3.3% от ВВП as demand for automotive и other products from the Чешская республика remains strong in the Европейское сообщество. Rising inflation from higher food и энергия prices are a risk to balanced economic growth. Significant increases in social spending in the run-up to June 2006 elections prevented, the government from meeting its goal of reducing its budget deficit to 3% от ВВП in 2007. Negotiations on pension и additional healthcare reforms are continuing without clear prospects for agreement и implementation. Intensified restructuring among large enterprises, improvements in the financial sector, и принята use of available EU funds should strengthen output growth. The pro-business Civic демократическая партия-led government approved reforms in 2007 designed to cut spending on some social welfare benefits и reform the tax system with the aim of eventually reducing the budget deficit to 2.3% от ВВП by 2010. Parliamentary approval for any additional reforms could prove difficult, however, because of the parliament's even split. The government withdrew a 2010 target date for euro adoption и instead aims to meet the eurozone criteria around 2012.

The Danish economy has in recent лет undergone strong expansion fueled primarily by private consumption growth, but also supported by exports и investments. This thoroughly modern market economy features high-tech agriculture, up-to-date small-scale и corporate industry, extensive government welfare measures, comfortable living standards, a stable currency, и high dependence on foreign trade. Unemployment is low и capacity constraints are limiting growth potential. Дания is a net exporter of food и энергия и enjoys a comfortable balance of payments surplus. Правление objectives include streamlining the bureaucracy и further privatization of state assets. The government has been successful in meeting, и even exceeding, the economic convergence criteria for participating in the third phase (a common European currency) of the European Economic и Monetary Union (EMU), but so far Дания has decided not to join 15 other EU members in the euro. Nonetheless, the Danish krone remains pegged to the euro. Economic growth gained momentum in 2004 и the upturn continued through 2007. The controversy over caricatures of the Prophet Muhammad printed in a Danish newspaper in September 2005 led to boycotts of some Danish exports to the мусульмане world, especially exports of молочная продукция, but the boycotts did not have a significant impact on the overall Danish economy. Because of high GDP per capita, welfare benefits, a low Gini index, и political stability, the Danish living standards are among the highest in the world. A major long-term issue will be the sharp decline in the ratio of workers to retirees.

The economy is based on service activities connected with the country's strategic location и status as a free trade zone in the Horn of Africa. Two-thirds Джибути's inhabitants live in the capital city; the remainder are mostly nomadic herders. Scanty rainfall limits crop production to фрукты и овощи, и most food must be imported. Джибути provides services as both a transit port for the region и an international transshipment и refueling center. Imports и exports from landlocked neighbor Эфиопия represent 85% of port activity at Джибути's container terminal. Джибути has few natural resources и little industry. The nation is, therefore, heavily dependent on foreign assistance to help support its balance of payments и to finance development projects. An unemployment rate of nearly 60% continues to be a major problem. While inflation is not a concern, due to the fixed tie of the Djiboutian franc to the доллар США, the artificially high value of the Djiboutian franc adversely affects Джибути's balance of payments. Per capita consumption dropped an estimated 35% between 1999 и 2006 because of recession, civil war, и a high population growth rate (including immigrants и беженцы). Faced with a multitude of economic difficulties, the government has fallen in arrears on long-term external debt и has been struggling to meet the stipulations of foreign aid donors.

The Dominican economy depends on agriculture, primarily bananas, и remains highly vulnerable to climatic conditions и international economic developments. Tourism has increased as the government seeks to promote Доминика as an "ecotourism" destination. In 2003, the government began a comprehensive restructuring of the economy - including elimination of price controls, privatization of the state banana company, и tax increases - to address Доминика's economic и financial crisis of 2001-02 и to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for 2006 reached a two-decade high - и will help to reduce the debt burden, which remains at about 100% от ВВП. In order to diversify the island's production base, the government is attempting to develop an offshore financial sector и is researching Доминика's capability to export geothermal энергия.

The Доминиканская республика has enjoyed strong GDP growth since 2005, with double digit growth in 2006. In 2007, exports were bolstered by the nearly 50% increase in никель prices; however, prices are expected to fall in 2008, contributing to a slowdown in GDP growth for the year. Although the country has long been viewed primarily as an exporter of sugar, coffee, и tobacco, in recent лет the service sector has overtaken agriculture as the economy's largest employer due to growth in tourism и free trade zones. The economy is highly dependent upon the US, the source of nearly three-fourths of exports, и remittances represent about a tenth от ВВП, equivalent to almost half of exports и three-quarters of tourism receipts. With the help of strict fiscal targets agreed to in the 2004 renegotiation of an IMF standby loan, Президент FERNANDEZ has stabilized the country's financial situation, lowering inflation to less than 6%. A fiscal expansion is expected for 2008 prior to the elections in May и for Tropical Storm Noel reconstruction. Although the economy is growing at a respectable rate, high unemployment и underemployment remains an important challenge. The country suffers from marked income inequality; the poorest half of the population receives less than один-fifth of GNP, while the richest 10% enjoys nearly 40% of national income. The Central America-Доминиканская республика Free Trade Agreement (CAFTA-DR) came into force in March 2007, which should boost investment и exports и diminishs losses to the азиаты garment industry.

Эквадор is substantially dependent on its нефть resources, which have accounted for more than half of the country's export earnings и один-fourth of public sector revenues in recent лет. In 1999/2000, Эквадор suffered a severe economic crisis, with GDP contracted by more than 6%, with a significant increase in poverty. The banking system also collapsed, и Эквадор defaulted on its external debt later that year. In March 2000, Congress approved a series of structural reforms that also provided for the adoption of the доллар США as legal tender. Dollarization stabilized the economy, и positive growth returned in the лет that followed, helped by high нефть prices, remittances, и increased non-traditional exports. From 2002-06 the economy grew 5.5%, the highest five-year average in 25 лет. The poverty rate declined but remained high at 38% in 2006. In 2006 the government of Alfredo PALACIO (2005-07) seized the assets of Occidental Petroleum for alleged contract violations и imposed a windfall revenue tax on foreign нефть companies, leading to the suspension of free trade negotiations with the US. These measures, combined with chronic underinvestment in the state нефть company, Petroecuador, led to a drop in нефть production in 2007. PALACIO's successor, Rafael CORREA, raised the specter of debt default - but Эквадор has paid its debt on time. He also decreed a higher windfall revenue tax on private нефть companies, then sought to renegotiate their contracts to overcome the debilitating effect of the tax. This generated economic uncertainty; private investment has dropped и economic growth has slowed significantly.

Occupying the northeast corner of the African continent, Египет is bisected by the highly fertile Nile valley, where most economic activity takes place. In the last 30 лет, the government has reformed the highly centralized economy it inherited from Президент Gamel Abdel NASSER. In 2005, Премьер Министр Ahmed NAZIF's government reduced personal и corporate tax rates, reduced энергия subsidies, и privatized several enterprises. The stock market boomed, и GDP grew about 5% per year in 2005-06, и topped 7% in 2007. Despite these achievements, the government has failed to raise living standards for the average Egyptian, и has had to continue providing subsidies for basic necessities. The subsidies have contributed to a sizeable budget deficit - roughly 7.5% от ВВП in 2007 - и represent a significant drain on the economy. Foreign direct investment has increased significantly in the past two лет, but the NAZIF government will need to continue its aggressive pursuit of reforms in order to sustain the spike in investment и growth и begin to improve economic conditions for the broader population. Египет's export sectors - particularly природный газ - have bright prospects.

The smallest country in Central America, Сальвадор has the third largest economy, but growth has been modest in recent лет. Robust growth in non-traditional exports have offset declines in the maquila exports, while remittances и external aid offset the trade deficit from high нефть prices и strong import demand for consumer и intermediate goods. Сальвадор leads the region in remittances per capita with inflows equivalent to nearly all export income. Implementation in 2006 of the Central America-Доминиканская республика Free Trade Agreement (CAFTA), which Сальвадор was the first to ratify, has strengthened an already positive export trend. With the adoption of the доллар США as its currency in 2001, Сальвадор lost control over monetary policy и must concentrate on maintaining a disciplined fiscal policy. The current government has pursued economic diversification, with some success in promoting textile production, international port services, и tourism through tax incentives. It is committed to opening the economy to trade и investment, и has embarked on a wave of privatizations extending to telecom, electricity distribution, banking, и pension funds. In late 2006, the government и the Millennium Challenge Corporation signed a five-year, $461 миллионов compact to stimulate economic growth и reduce poverty in the country's northern region through investments in education, public services, enterprise development, и транспорт infrastructure.

The discovery и exploitation of large нефть reserves have contributed to dramatic economic growth in recent лет. Forestry, фермерство, и рыболовство are also major components от ВВП. Subsistence фермерство predominates. Although pre-independence Экваториальная Гвинея counted on cocoa production for hard currency earnings, the neglect of the rural economy under successive regimes has diminished potential for agriculture-led growth (the government has stated its intention to reinvest some нефть revenue into agriculture). A number of aid programs sponsored by the Мир Bank и the IMF have been cut off since 1993, because of corruption и mismanagement. No longer eligible for concessional financing because of large нефть revenues, the government has been trying to agree on a "shadow" fiscal management program with the Мир Bank и IMF. Правление officials и their family members own most businesses. Undeveloped natural resources include titanium, железная руда, manganese, уран, и alluvial золото. Growth remained strong in 2007, led by нефть.

Since independence from Эфиопия in 1993, Эритрея has faced the economic problems of a small, desperately poor country, accentuated by the recent implementation of restrictive economic policies. Эритрея has a command economy under the control of the sole political party, the Люди's Front for Democracy и Justice (PFDJ). Like the economies of many African nations, the economy is largely based on subsistence agriculture, with 80% of the population involved in фермерство и herding. The Ethiopian-Эритрея war in 1998-2000 severely hurt Эритрея's economy. GDP growth fell to zero in 1999 и to -12.1% in 2000. The May 2000 Ethiopian offensive into northern Эритрея caused some $600 миллионов in property damage и loss, including losses of $225 миллионов in livestock и 55,000 homes. The attack prevented planting of crops in Эритрея's most productive region, causing food production to drop by 62%. Even during the war, Эритрея developed its транспорт infrastructure, asphalting new roads, improving its ports, и repairing war-damaged roads и bridges. Since the war ended, the government has maintained a firm grip on the economy, expanding the use of the military и party-owned businesses to complete Эритрея's development agenda. The government strictly controls the use of foreign currency, limiting access и availability. Few private enterprises remain in Эритрея. Эритрея's economy is heavily dependent on taxes paid by members of the diaspora. Erratic rainfall и the delayed demobilization of agriculturalists from the military continue to interfere with agricultural production, и Эритрея's recent harvests have not been able to meet the food needs of the country. The government continues to place its hope for additional revenue on the development of several international добыча полезных ископаемых projects. Despite difficulties for international companies in working with the Eritrean government, a Canadian добыча полезных ископаемых company signed a contract with the GSE in 2007 и plans to begin mineral добывающая промышленность in 2010. Эритрея also anticipates opening a free trade zone at the port of Massawa in 2008. Эритрея's economic future depends upon its ability to master social problems such as illiteracy, unemployment, и low skills, и more importantly, on the government's willingness to support a true market economy.

Эстония, a 2004 Европейское сообщество entrant, has a modern market-based economy и один of the highest per capita income levels in Центральная Европа. The economy benefits from strong производство электроники и телекоммуникации sectors и strong trade ties with Финляндия, Швеция, и Германия. The current government has pursued relatively sound fiscal policies, resulting in balanced budgets и low public debt. In 2007, however, a large current account deficit и rising inflation put pressure on Эстония's currency, which is pegged to the euro, highlighting the need for growth in export-generating industries.

Эфиопия's poverty-stricken economy is based on agriculture, accounting for almost half от ВВП, 60% of exports, и 80% of total employment. The agricultural sector suffers from frequent drought и poor cultivation practices. Coffee is critical to the Ethiopian economy with exports of some $350 миллионов in 2006, but historically low prices have seen many farmers switching to qat to supplement income. The war with Эритрея in 1998-2000 и recurrent drought have buffeted the economy, in particular coffee production. In November 2001, Эфиопия qualified for debt relief from the Highly Indebted Poor Countries (HIPC) initiative, и in December 2005 the IMF voted to forgive Эфиопия's debt to the body. Under Эфиопия's constitution, the state owns all land и provides long-term leases to the tenants; the system continues to hamper growth in the industrial sector as entrepreneurs are unable to use land as collateral for loans. Drought struck again late in 2002, leading to a 3.3% decline in GDP in 2003. Normal weather patterns helped agricultural и GDP growth recover during 2004-07.

Internally, the EU is attempting to lower trade barriers, adopt a common currency, и move toward convergence of living standards. Internationally, the EU aims to bolster Europe's trade position и its political и economic power. Because of the great differences in per capita income among member states (from $7,000 to $69,000) и historic national animosities, the EU faces difficulties in devising и enforcing common policies. For example, since 2003 Германия и Франция have flouted the member states' treaty obligation to prevent their national budgets from running more than a 3% deficit. In 2004 и 2007, the EU admitted 10 и two countries, respectively, that are, in general, less advanced technologically и economically than the other 15. Eleven established EU member states introduced the euro as their common currency on 1 January 1999 (Греция did so two лет later), but the Великобритания, Швеция, и Дания chose not to participate. Of the 12 most recent member states, only Словения (1 January 2007) и Кипр и Мальта (1 January 2008) have adopted the euro; the remaining nine are legally required to adopt the currency upon meeting EU's fiscal и monetary convergence criteria.

The economy was formerly based on agriculture, mainly sheep фермерство, but today рыболовство contributes the bulk of economic activity. In 1987, the government began selling рыболовство licenses to foreign trawlers operating within the Falkland Islands' exclusive рыболовство zone. These license fees total more than $40 миллионов per year, which help support the island's health, education, и welfare system. Squid accounts for 75% of the рыба taken. Dairy фермерство supports domestic consumption; crops furnish winter fodder. Exports feature shipments of high-grade wool to the Великобритания и the sale of postage stamps и coins. The islands are now self-financing except for defense. The British Geological Survey announced a 200-mile нефть exploration zone around the islands in 1993, и early seismic surveys suggest substantial reserves capable of producing 500,000 barrels per day; to date, no exploitable site has been identified. An agreement between Аргентина и the Великобритания in 1995 seeks to defuse licensing и sovereignty conflicts that would dampen foreign interest in exploiting potential нефть reserves. Tourism, especially eco-tourism, is increasing rapidly, with about 30,000 visitors in 2001. Another large source of income is interest paid on money the government has in the bank. The British military presence also provides a sizeable economic boost.

The Faroese economy is dependent on рыболовство, which makes the economy vulnerable to price swings. Since 2003 the Faroese economy has picked up as a result of higher prices for рыба и for housing. Unemployment is minimal и government finances are relatively sound. Oil finds close to the Islands give hope for economically recoverable deposits, which could eventually lay the basis for a more diversified economy и lessen dependence on Danish economic assistance. Aided by a substantial annual subsidy (about 15% от ВВП) from Дания, the Faroese have a standard of living not far below the Danes и other Scandinavians.

Фиджи, endowed with forest, mineral, и рыба resources, is один of the most developed of the Pacific island economies, though still with a large subsistence sector. Sugar exports, remittances from Fijians working abroad, и a growing tourist industry - with 400,000 to 500,000 tourists annually - are the major sources of foreign exchange. Фиджи's sugar has special access to Европейское сообщество markets, but will be harmed by the EU's decision to cut sugar subsidies. Sugar processing makes up один-third of industrial activity but is not efficient. Фиджи's tourism industry was damaged by the December 2006 coup и is facing an uncertain recovery time. The coup has created a difficult business climate. Tourist arrivals for 2007 are estimated to be down almost 6%, with substantial job losses in the service sector. In July 2007 the Reserve Bank Фиджи announced the economy was expected to contract by 3.1% in 2007. Фиджи's current account deficit reached 23% от ВВП in 2006. The EU has suspended all aid until the interim government takes steps toward new elections. Long-term problems include low investment, uncertain land ownership rights, и the government's inability to manage its budget. Overseas remittances from Fijians working in Кювейт и Ирак have decreased significantly.

Финляндия has a highly industrialized, largely free-market economy with per capita output roughly that of the Великобритания, Франция, Германия, и Италия. Its key economic sector is обрабатывающая промышленность - principally the wood, metals, engineering, телекоммуникации, и производство электроники industries. Trade is important; exports equal nearly two-fifths от ВВП. Финляндия excels in high-tech exports, e.g., mobile phones. Except for леса и several minerals, Финляндия depends on imports of raw materials, энергия, и some components for manufactured goods. Because of the climate, agricultural development is limited to maintaining self-sufficiency in basic products. Forestry, an important export earner, provides a secondary occupation for the rural population. High unemployment remains a persistent problem. In 2007 Россия announced plans to impose high tariffs on raw леса exported to Финляндия. The Finnish pulp и paper industry will be threatened if these duties are put into place in 2008 и 2009, и the matter is now being handled by the Европейское сообщество.

Франция is in the midst of transition from a well-to-do modern economy that has featured extensive government ownership и intervention to один that relies more on market mechanisms. The government has partially или fully privatized many large companies, banks, и insurers, и has ceded stakes in such leading firms as Air Франция, Франция Telecom, Renault, и Thales. It maintains a strong presence in some sectors, particularly power, public transport, и defense industries. The телекоммуникации sector is gradually being opened to competition. Франция's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, и social spending that reduce income disparity и the impact of free markets on public health и welfare. Widespread opposition to labor reform has in recent лет hampered the government's ability to revitalize the economy. In 2007, the government launched divisive labor reform efforts that will continue into 2008. Франция's tax burden remains один of the highest in Europe (nearly 50% от ВВП in 2005). Франция brought the budget deficit within the eurozone's 3%-of-GDP limit for the first time in 2007 и has reduced unemployment to roughly 8%. With at least 75 миллионов foreign tourists per year, Франция is the most visited country in the world и maintains the third largest income in the world from tourism.

Since 1962, when Франция stationed military personnel in the region, Французская Полинезия has changed from a subsistence agricultural economy to один in which a high proportion of the work force is either employed by the military или supports the tourist industry. With the halt of French nuclear testing in 1996, the military contribution to the economy fell sharply. Tourism accounts for about один-fourth от ВВП и is a primary source of hard currency earnings. Other sources of income are pearl фермерство и deep-sea commercial рыболовство. The small обрабатывающая промышленность sector primarily processes продукты сельского хозяйства. The territory benefits substantially from development agreements with Франция aimed principally at creating new businesses и strengthening social services.

Габон enjoys a per capita income four times that of most of sub-Saharan African nations. but because of high income inequality, a large proportion of the population remains poor. Габон depended on леса и manganese until нефть was discovered offshore in the early 1970s. The нефть sector now accounts for 50% от ВВП. Габон continues to face fluctuating prices for its нефть, леса, и manganese exports. Despite the abundance of natural wealth, poor fiscal management hobbles the economy. The devaluation of the CFA franc - its currency - by 50% in January 1994 sparked a один-time inflationary surge, to 35%; the rate dropped to 6% in 1996. The IMF provided a один-year standby arrangement in 1994-95, a three-year Enhanced Financing Facility (EFF) at near commercial rates beginning in late 1995, и stand-by credit of $119 миллионов in October 2000. Those agreements mandated progress in privatization и fiscal discipline. Франция provided additional financial support in January 1997 после Габон met IMF targets for mid-1996. In 1997, an IMF mission to Габон criticized the government for overspending on off-budget items, overborrowing from the central bank, и slipping on its schedule for privatization и administrative reform. The rebound of нефть prices since 1999 have helped growth, but drops in production have hampered Габон from fully realizing potential gains, и will continue to temper the gains for most of this decade. In December 2000, Габон signed a new agreement with the Paris Club to reschedule its official debt. A follow-up bilateral repayment agreement with the US was signed in December 2001. Габон signed a 14-month Stand-By Arrangement with the IMF in May 2004, и received Paris Club debt rescheduling later that year. Short-term progress depends on an upbeat world economy и fiscal и other adjustments in line with IMF policies.

The Gambia has no confirmed mineral или natural resource deposits и has a limited agricultural base. About 75% of the population depends on crops и livestock for its livelihood. Small-scale обрабатывающая промышленность activity features the processing of peanuts, рыба, и hides. Reexport trade normally constitutes a major segment of economic activity, but a 1999 government-imposed preshipment inspection plan, и instability of the Gambian dalasi (currency) have drawn some of the reexport trade away from The Gambia. The Gambia's natural beauty и proximity to Europe has made it один of the larger markets for tourism in West Africa. The government's 1998 seizure of the private peanut firm Alimenta eliminated the largest purchaser of Gambian groundnuts. Despite an announced program to begin privatizing key parastatals, no plans have been made public that would indicate that the government intends to follow through on its promises. Unemployment и underemployment rates remain extremely high; short-run economic progress depends on sustained bilateral и multilateral aid, on responsible government economic management, on continued технический персонал assistance from the IMF и bilateral donors, и on expected growth in the construction sector.

High population density, limited land access, и strict internal и external security controls have kept economic conditions in the Сектор Газa - the smaller of the two areas under the Palestinian Authority (PA)- even more degraded than in the Западный берег Иордании. The beginning of the second intifadah in September 2000 sparked an economic downturn, largely the result of Israeli closure policies; these policies, which were imposed to address security concerns in Израиль, disrupted labor и trade access to и from the Сектор Газa. In 2001, и even more severely in 2003, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, и widespread business closures. The Israeli withdrawal from the Сектор Газa in September 2005 offered some medium-term opportunities for economic growth, but continued Israeli-imposed crossings closures, which became more restrictive после Hamas violently took over the territory in June 2007, have resulted in widespread private sector layoffs и shortages of most goods.

Грузия's economy has sustained robust GDP growth of close to 10% in 2006 и 12% in 2007, based on strong inflows of foreign investment и robust government spending. However, a widening trade deficit и higher inflation are emerging risks to the economy. Areas of recent improvement include increasing foreign direct investment as well as growth in the construction, banking services и добыча полезных ископаемых sectors. Грузия's main economic activities include the cultivation of продукты сельского хозяйства such as grapes, citrus фрукты, и hazelnuts; добыча полезных ископаемых of manganese и медь; и output of a small industrial sector producing alcoholic и nonalcoholic beverages, metals, machinery, самолеты и химическая промышленность. The country imports nearly all its needed supplies of природный газ и нефть products. It has sizeable hydropower capacity, a growing component of its энергия supplies. Despite the severe damage the economy suffered due to civil strife in the 1990s, Грузия, with the help of the IMF и Мир Bank, has made substantial economic gains since 2000, achieving positive GDP growth и curtailing inflation. Грузия's GDP growth neared 10% in 2006 и 2007 despite restrictions on commerce with Россия. Areas of recent improvement include increased foreign direct investment as well as growth in the construction, banking services, и добыча полезных ископаемых sectors. In addition, the reinvigorated privatization process has met with success. However, a widening trade deficit и higher inflation are emerging risks to the economy. Грузия has suffered from a chronic failure to collect tax revenues; however, the new government is making progress и has reformed the tax code, improved tax administration, increased tax enforcement, и cracked down on corruption. Правление revenues have increased nearly four fold since 2003. Due to improvements in customs и financial (tax) enforcement, smuggling is a declining problem. Грузия has overcome the chronic энергия shortages of the past by renovating hydropower plants и by bringing newly available природный газ supplies from Азербайджан. It also has an increased ability to pay for more expensive газ imports from Россия. The country is pinning its hopes for long-term growth on a determined effort to reduce regulation, taxes и corruption in order to attract foreign investment. The construction on the Baku-T'bilisi-Ceyhan нефть pipeline, the Baku-T'bilisi-Erzerum газ pipeline, и the Kars-Akhalkalaki Railroad are part of a strategy to capitalize on Грузия's strategic location between Europe и Азия и develop its role as a transit point for газ, нефть и other goods.

Германия's affluent и technologically powerful economy - the fifth largest in the world in PPP terms - showed considerable improvement in 2007 with 2.6% growth. After a long period of stagnation with an average growth rate of 0.7% between 2001-05 и chronically high unemployment, stronger growth led to a considerable fall in unemployment to about 8% near the end of 2007. Among the most important reasons for Германия's high unemployment during the past decade were macroeconomic stagnation, the declining level of investment in plant и equipment, company restructuring, flat domestic consumption, structural rigidities in the labor market, lack of competition in the service sector, и high interest rates. The modernization и integration of the eastern German economy continues to be a costly long-term process, with annual transfers from запад to восток amounting to roughly $80 миллиардов:. The former government of Chancellor Gerhard SCHROEDER launched a comprehensive set of reforms of labor market и welfare-related institutions. The current government of Chancellor Angela MERKEL has initiated other reform measures, such as a gradual increase in the mandatory retirement age from 65 to 67 и measures to increase female participation in the labor market. Германия's aging population, combined with high chronic unemployment, has pushed social security outlays to a level exceeding contributions, but higher government revenues from the cyclical upturn in 2006-07 и a 3% rise in the value-added tax pushed Германия's budget deficit well below the EU's 3% debt limit. Corporate restructuring и growing capital markets are setting the foundations that could help Германия meet the long-term challenges of European economic integration и globalization, although some economists continue to argue the need for change in inflexible labor и services markets. Growth may fall below 2% in 2008 as the strong euro, high нефть prices, tighter credit markets, и slowing growth abroad take their toll.

Well endowed with natural resources, Гана has roughly twice the per capita output of the poorest countries in West Africa. Even so, Гана remains heavily dependent on international financial и технический персонал assistance. Gold и cocoa production, и individual remittances, are major sources of foreign exchange. The domestic economy continues to revolve around agriculture, which accounts for about 35% от ВВП и employs about 55% of the work force, mainly small landholders. Гана opted for debt relief under the Heavily Indebted Poor Страна (HIPC) program in 2002, и is also benefiting from the Multilateral Debt Relief Initiative that took effect in 2006. Thematic priorities under its current Growth и Poverty Reduction Strategy, which also provides the framework for development partner assistance, are: macroeconomic stability; private sector competitiveness; human resource development; и good governance и civic responsibility. Sound macro-economic management along with high prices for золото и cocoa helped sustain GDP growth in 2007. Гана signed a Millennium Challenge Corporation (MCC) Compact in 2006, which aims to assist in transforming Гана's agricultural sector.

Self-sufficient Гибралтар: заморская территория Великобритании benefits from an extensive shipping trade, offshore banking, и its position as an international conference center. The British military presence has been sharply reduced и now contributes about 7% to the local economy, compared with 60% in 1984. The financial sector, tourism (almost 5 миллионов visitors in 1998), shipping services fees, и duties on товары народного потребления also generate revenue. The financial sector, the shipping sector, и tourism each contribute 25%-30% от ВВП. Telecommunications accounts for another 10%. In recent лет, Гибралтар: заморская территория Великобритании has seen major structural change from a public to a private sector economy, but changes in government spending still have a major impact on the level of employment.

Греция has a capitalist economy with the public sector accounting for about 40% от ВВП и with per capita GDP at least 75% of the leading euro-zone economies. Tourism provides 15% от ВВП. Immigrants make up nearly один-fifth of the work force, mainly in agricultural и unskilled jobs. Греция is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4.0% per year between 2003 и 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, и in part to an increased availability of credit, which has sustained record levels of consumer spending. Греция violated the EU's Growth и Stability Pact budget deficit criteria of no more than 3% от ВВП from 2001 to 2006, but finally met that criteria in 2007. Public debt, inflation, и unemployment are above the euro-zone average, but are falling. The Greek Правление continues to grapple with cutting government spending, reducing the size of the public sector, и reforming the labor и pension systems, in the face of often vocal opposition from the country's powerful labor unions и the general public. The economy remains an important domestic political issue in Греция и, while the ruling New Democracy government has had some success in improving economic growth и reducing the budget deficit, Athens faces long-term challenges in its effort to continue its economic reforms, especially social security reform и privatization.

The economy remains critically dependent on exports of рыба и a substantial subsidy from the Danish Правление, which supplies about half of government revenues. The public sector, including publicly owned enterprises и the municipalities, plays the dominant role in the economy. Several interesting hydrocarbon и mineral exploration activities are ongoing. Press reports in early 2007 indicated that two international aluminum companies were considering building smelters in Гренландия to take advantage of local hydropower potential. Tourism is the only sector offering any near-term potential, и even this is limited due to a short season и high costs. Air Гренландия began summer-season direct flights to the US восток coast in May 2007, potentially opening a major new tourism market.

Гренада relies on tourism as its main source of foreign exchange, especially since the construction of an international airport in 1985. Strong performances in construction и обрабатывающая промышленность, together with the development of an offshore financial industry, have also contributed to growth in national output. Гренада has rebounded from the devastating effects of Hurricanes Ivan (2004) и Emily (2005), but is now saddled with the debt burden from the rebuilding process. The agricultural sector, particularly nutmeg и cocoa cultivation, has gradually recovered, и the tourism sector has seen substantial increases in foreign direct investment as the regional share of the tourism market increases.

The economy depends largely on US military spending и tourism. Total US grants, wage payments, и procurement outlays amounted to $1.3 миллиардов: in 2004. Over the past 30 лет, the tourist industry has grown to become the largest income source following national defense. The Гуам economy continues to experience expansion in both its tourism и military sectors.

Гватемала is the most populous of the Central American countries with a GDP per capita roughly один-half that Аргентины, Бразилия, и Чили. The agricultural sector accounts for about один-tenth от ВВП, two-fifths of exports, и half of the labor force. Coffee, sugar, и bananas are the main products, with sugar exports benefiting from increased global demand for ethanol. The 1996 signing of peace accords, which ended 36 лет of civil war, removed a major obstacle to foreign investment, и Гватемала since then has pursued important reforms и macroeconomic stabilization. On 1 July 2006, the Central American Free Trade Agreement (CAFTA) entered into force between the US и Гватемала и has since spurred increased investment in the export sector. The distribution of income remains highly unequal with about 56% of the population below the poverty line. Other ongoing challenges include increasing government revenues, negotiating further assistance from international donors, upgrading both government и private financial operations, curtailing drug trafficking и rampant crime, и narrowing the trade deficit. Given Гватемала 's large expatriate community in the США, it is the top remittance recipient in Central America, with inflows serving as a primary source of foreign income equivalent to nearly two-thirds of exports.

Гвинея possesses major mineral, hydropower, и agricultural resources, yet remains an underdeveloped nation. The country has almost half of the world's боксит reserves и is the second-largest боксит producer. The добыча полезных ископаемых sector accounts for over 70% of exports. Long-run improvements in government fiscal arrangements, literacy, и the legal framework are needed if the country is to move out of poverty. Investor confidence has been sapped by rampant corruption, a lack of electricity и other infrastructure, a lack of skilled workers, и the political uncertainty due to the failing health of Президент Lansana CONTE. Гвинея is trying to reengage with the IMF и Мир Bank, which cut off most assistance in 2003, и is working closely with технический персонал advisors from the U.S. Treasury Department, the Мир Bank и IMF, seeking to return to a fully funded program. Growth rose slightly in 2006-07, primarily due to increases in global demand и commodity prices on world markets, but the standard of living fell. The Гвинея franc depreciated sharply as the prices for basic necessities like food и fuel rose beyond the reach of most Guineans. Dissatisfaction with economic conditions prompted nationwide strikes in February и June 2006.

One of the five poorest countries in the world, Гвинея-Бисау depends mainly on фермерство и рыболовство. Cashew crops have increased remarkably in recent лет, и the country now ranks sixth in cashew production. Гвинея-Бисау exports рыба и seafood along with small amounts of peanuts, palm kernels, и леса. Rice is the major crop и staple food. However, intermittent fighting between Senegalese-backed government troops и a military junta destroyed much of the country's infrastructure и caused widespread damage to the economy in 1998; the civil war led to a 28% drop in GDP that year, with partial recovery in 1999-2002. Before the war, trade reform и price liberalization were the most successful part of the country's structural adjustment program under IMF sponsorship. The tightening of monetary policy и the development of the private sector had also begun to reinvigorate the economy. Because of high costs, the development of нефть, phosphate, и other mineral resources is not a near-term prospect. Offshore нефть prospecting is underway in several sectors but has not yet led to commercially viable crude deposits. The inequality of income distribution is один of the most extreme in the world. The government и international donors continue to work out plans to forward economic development from a lamentably low base. In December 2003, the Мир Bank, IMF, и UNDP were forced to step in to provide emergency budgetary support in the amount of $107 миллионов for 2004, representing over 80% of the total national budget. Правление drift и indecision, however, resulted in continued low growth in 2002-06. Higher raw material prices boosted growth to 3.7% in 2007.

The Guyanese economy exhibited moderate economic growth in 2001-07, based on expansion in the agricultural и добыча полезных ископаемых sectors, a more favorable atmosphere for business initiatives, a more realistic exchange rate, fairly low inflation, и the continued support of international organizations. Economic recovery since the 2005 flood-related contraction has been buoyed by increases in remittances и foreign direct investment. Chronic problems include a shortage of skilled labor и a deficient infrastructure. The government is juggling a sizable external debt against the urgent need for expanded public investment. In March 2007, the Inter-American Development Bank, Гвиана's principal donor, canceled Гвиана's nearly $470 миллионов debt, equivalent to nearly 48% от ВВП. The боксит добыча полезных ископаемых sector should benefit in the near term from restructuring и partial privatization, и the state-owned sugar industry will conduct efficiency increasing modernizations. Export earnings from agriculture и добыча полезных ископаемых have fallen sharply, while the import bill has risen, driven by higher энергия prices. Гвиана's entrance into the Caricom Single Market и Экономика (CSME) in January 2006 will broaden the country's export market, primarily in the raw materials sector.

Гаити is the poorest country in the Western Hemisphere, with 80% of the population living under the poverty line и 54% in abject poverty. Two-thirds of all Haitians depend on the agricultural sector, mainly small-scale subsistence фермерство, и remain vulnerable to damage from frequent natural disasters, exacerbated by the country's widespread deforestation. A macroeconomic program developed in 2005 with the help of the Международные Monetary Fund helped the economy grow 3.5% in 2007, the highest growth rate since 1999. US economic engagement under the Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE) Act, passed in December 2006, has boosted the garment и automotive parts exports и investment by providing tariff-free access to the US. Гаити suffers from high inflation, a lack of investment because of insecurity и limited infrastructure, и a severe trade deficit. In 2005, Гаити paid its arrears to the Мир Bank, paving the way for reengagement with the Bank. The government relies on formal international economic assistance for fiscal sustainability. Remittances are the primary source of foreign exchange, equaling nearly a quarter от ВВП и more than twice the earnings from exports.

This unique, noncommercial economy is supported financially by an annual contribution (known as Peter's Pence) from католики (Римская Католическая церковь) dioceses throughout the world; by the sale of postage stamps, coins, medals, и tourist mementos; by fees for admission to museums; и by the sale of publications. Investments и real estate income also account for a sizable portion of revenue. The incomes и living standards of lay workers are comparable to those of counterparts who work in the city of Rome.

Гондурас, the second poorest country in Central America и один of the poorest countries in the Western Hemisphere, with an extraordinarily unequal distribution of income и massive unemployment, is banking on expanded trade under the US-Central America Free Trade Agreement (CAFTA) и on debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. Despite improvements in tax collections, the government's fiscal deficit is growing due to increases in current expenditures и financial losses from the state энергия и telephone companies. Гондурас is the fastest growing remittance destination in the region with inflows representing over a quarter от ВВП, equivalent to nearly three-quarters of exports. The economy relies heavily on a narrow range of exports, notably bananas и coffee, making it vulnerable to natural disasters и shifts in commodity prices, however, investments in the maquila и non-traditional export sectors are slowly diversifying the economy. Growth remains dependent on the economy of the US, its largest trading partner, и on reduction of the high crime rate, as a means of attracting и maintaining investment.

Гонконг has a free market economy highly dependent on international trade. In 2006, the total value of goods и services trade, including the sizable share of reexports, was equivalent to 400% от ВВП. The territory has become increasingly integrated with mainland Китай over the past few лет through trade, tourism, и financial links. The mainland has long been Гонконг 's largest trading partner, accounting for 46% Гонконга's total trade by value in 2006. As a result Китая's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 миллионов in 2001 to 13.6 миллионов in 2006, when they outnumbered visitors from all other countries combined. Гонконг has also established itself as the premier stock market for Chinese firms seeking to list abroad. Bolstered by several successful initial public offerings in early 2007, by September 2007 mainland companies accounted for один-third of the firms listed on the Гонконг Stock Exchange, и more than half of the Exchange's market capitalization. During the past decade, as Гонконг 's обрабатывающая промышленность industry moved to the mainland, its service industry has grown rapidly и now accounts for 91% of the territory's GDP. Гонконг 's natural resources are limited, и food и raw materials must be imported. GDP growth averaged a strong 5% from 1989 to 2007, despite the economy suffering two recessions during the азиаты financial crisis in 1997-98 и the global downturn in 2001-02. Гонконг continues to link its currency closely to the доллар США, maintaining an arrangement established in 1983.

Венгрия has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for more than 80% от ВВП. Foreign ownership of и investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 миллиардов: since 1989. Венгрия issues investment-grade sovereign debt. Международные observers, however, have expressed concerns over Венгрия's fiscal и current account deficits. In 2007, Венгрия eliminated a trade deficit that had persisted for several лет. Inflation declined from 14% in 1998 to a low of 3.7% in 2006, but jumped to 7.8% in 2007. Unemployment has persisted above 6%. Венгрия's labor force participation rate of 57% is один of the lowest in the Organization for Economic Cooperation и Development (OECD). Германия is by far Венгрия's largest economic partner. Policy challenges include cutting the public sector deficit to 4% от ВВП by 2008, from about 6% in 2007. The government's austerity program of tax hikes и subsidy cuts has reduced Венгрия's large budget deficit, but the reforms have dampened domestic consumption, slowing GDP growth to about 2% in 2007. The government will need to pass additional reforms to ensure the long-term stability of public finances. The government plans to eventually lower its public sector deficit to below 3% от ВВП to adopt the euro.

Исландия's Scandinavian-type economy is basically capitalistic, yet with an extensive welfare system (including generous housing subsidies), low unemployment, и remarkably even distribution of income. In the absence of other natural resources (except for abundant geothermal power), the economy depends heavily on the рыболовство industry, which provides 70% of export earnings и employs 6% of the work force. The economy remains sensitive to declining рыба stocks as well as to fluctuations in world prices for its main exports: рыба и рыба products, aluminum, и ferrosilicon. Substantial foreign investment in the aluminum и hydropower sectors has boosted economic growth which, nevertheless, has been volatile и characterized by recurrent imbalances. Правление policies include reducing the current account deficit, limiting foreign borrowing, containing inflation, revising agricultural и рыболовство policies, и diversifying the economy. The government remains opposed to EU membership, primarily because of Icelanders' concern about losing control over their рыболовство resources. Исландия's economy has been diversifying into обрабатывающая промышленность и service industries in the last decade, и new developments in software production, biotechnology, и financial services are taking place. The tourism sector is also expanding, with the recent trends in ecotourism и whale watching. The 2006 closure of the US military base at Keflavik had very little impact on the national economy; Исландия's low unemployment rate aided former base employees in finding alternate employment.

Индия's diverse economy encompasses traditional village фермерство, modern agriculture, handicrafts, a wide range of modern industries, и a multitude of services. Services are the major source of economic growth, accounting for more than half Индии's output with less than один third of its labor force. About three-fifths of the work force is in agriculture, leading the United Progressive Alliance (UPA) government to articulate an economic reform program that включая developing basic infrastructure to improve the lives of the rural poor и boost economic performance. The government has reduced controls on foreign trade и investment. Higher limits on foreign direct investment were permitted in a few key sectors, such as телекоммуникации. However, tariff spikes in sensitive categories, including agriculture, и incremental progress on economic reforms still hinder foreign access to Индия's vast и growing market. Privatization of government-owned industries remains stalled и continues to generate political debate; populist pressure from within the UPA government и from its Left Front allies continues to restrain needed initiatives. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. Индия achieved 8.5% GDP growth in 2006, и again in 2007, significantly expanding production of manufactures. Индия is capitalizing on its large numbers of well-educated people skilled in the английский language to become a major exporter of software services и software workers. Economic expansion has helped New Delhi continue to make progress in reducing its federal fiscal deficit. However, strong growth combined with easy consumer credit и a real estate boom fueled inflation concerns in 2006 и 2007, leading to a series of central bank interest rate hikes that have slowed credit growth и eased inflation concerns. The huge и growing population is the fundamental social, economic, и environmental problem.

Индонeзия, a vast polyglot nation, has been undergoing significant economic reforms under Президент YUDHOYONO. Индонeзия's debt-to-GDP ratio has been declining steadily, its foreign exchange reserves are at an all-time high of over $50 миллиардов:, и its stock market has been один of the three best performers in the world in 2006 и 2007, as global investors sought out higher returns in emerging markets. The government has introduced significant reforms in the financial sector, including tax и customs reforms, the introduction of Treasury bills, и improved capital market supervision. Индонeзия's new investment law, passed in March 2007, seeks to address some of the concerns of foreign и domestic investors. Индонeзия still struggles with poverty и unemployment, inadequate infrastructure, corruption, a complex regulatory environment, и unequal resource distribution among regions. Индонeзия has been slow to privatize over 100 state-owned enterprises, several of which have monopolies in key sectors. The non-bank financial sector, including pension funds и insurance, remains weak. Capital markets are underdeveloped. The high global price of нефть in 2007 increased the cost of domestic fuel и electricity subsidies, и are contributing to concerns about higher food prices. Located on the Pacific "Ring of Fire" Индонeзия remains vulnerable to volcanic и tectonic disasters. Significant progress has been made in rebuilding Aceh после the devastating December 2004 tsunami, и the province now shows more economic activity than before the disaster. Unfortunately, Индонeзия suffered new disasters in 2006 и early 2007 including: a major землетрясения near Yogyakarta, an industrial accident in Sidoarjo, East Java that created a "mud volcano," a tsunami in South Java, и major наводнения in Jakarta, all of which caused additional damages in the billions of dollars. Donors are assisting Индонeзия with its disaster mitigation и early warning efforts.

Ирак's economy is dominated by the нефть sector, which has traditionally provided about 95% of foreign exchange earnings. Although looting, insurgent attacks, и sabotage have undermined economy rebuilding efforts, economic activity is beginning to pick up in areas recently secured by the US military surge. Oil exports are around levels seen before Operation Iraqi Freedom, и total government revenues have benefited from high нефть prices. Despite political uncertainty, Ирак is making some progress in building the institutions needed to implement economic policy и has negotiated a debt reduction agreement with the Paris Club и a new Stand-By Arrangement with the IMF. Ирак has received pledges for $13.5 миллиардов: in foreign aid for 2004-07 from outside of the US, more than $33 миллиардов: in total pledges. The Международные Compact with Ирак was established in May 2007 to integrate Ирак into the regional и global economy, и the Iraqi government is seeking to pass laws to strengthen its economy. This legislation включая a hydrocarbon law to establish a modern legal framework to allow Ирак to develop its resources и a revenue sharing law to equitably divide нефть revenues within the nation, although both are still bogged down in discussions. The Central Bank has been successful in controlling inflation through appreciation of the dinar against the доллар США. Reducing corruption и implementing structural reforms, such as bank restructuring и developing the private sector, will be key to Ирак's economic success.

Ирландия is a small, modern, trade-dependent economy with growth averaging 6% in 1995-2007. Agriculture, once the most important sector, is now dwarfed by industry и services. Although the exports sector, dominated by foreign multinationals, remains a key component Ирландии's economy, construction has most recently fueled economic growth along with strong consumer spending и business investment. Property prices have risen more rapidly in Ирландия in the decade up to 2006 than in any other developed world economy. Per capita GDP is 40% above that of the four big European economies и the second highest in the EU behind Люксембург, и in 2007 surpassed that of the США. The Irish Правление has implemented a series of national economic programs designed to curb price и wage inflation, invest in infrastructure, increase labor force skills, и promote foreign investment. A slowdown in the property market, more intense global competition, и increased costs, however, have compelled government economists to lower Ирландия's growth forecast slightly for 2008. Ирландия joined in circulating the euro on 1 January 2002 along with 11 other EU nations.

Offshore banking, обрабатывающая промышленность, и tourism are key sectors of the economy. The government offers incentives to high-technology companies и financial institutions to locate on the island; this has paid off in expanding employment opportunities in high-income industries. As a result, agriculture и рыболовство, once the mainstays of the economy, have declined in their shares от ВВП. The Остров Мэн also attracts online gambling sites и the film industry. Trade is mostly with the Великобритания. The Остров Мэн enjoys free access to EU markets.

Израиль has a technologically advanced market economy with substantial, though diminishing, government participation. It depends on imports of сырая нефть, grains, raw materials, и military equipment. Despite limited natural resources, Израиль has intensively developed its agricultural и industrial sectors over the past 20 лет. Израиль imports substantial quantities of grain but is largely self-sufficient in other продукты сельского хозяйства. Cut алмазы, high-technology equipment, и продукты сельского хозяйства (фрукты и овощи) are the leading exports. Израиль usually posts sizable trade deficits, which are covered by large transfer payments from abroad и by foreign loans. Roughly half of the government's external debt is owed to the US, its major source of economic и military aid. Израиль's GDP, после contracting slightly in 2001 и 2002 due to the Palestinian conflict и troubles in the high-technology sector, has grown by about 5% per year since 2003. The economy grew an estimated 5.4% in 2007, the fastest pace since 2000. The government's prudent fiscal policy и structural reforms over the past few лет have helped to induce strong foreign investment, tax revenues, и private consumption, setting the economy on a solid growth path.

Италия has a diversified industrial economy with roughly the same total и per capita output as Франция и the Великобритания. This capitalistic economy remains divided into a developed industrial север, dominated by private companies, и a less-developed, welfare-dependent, agricultural юг, with 20% unemployment. Most raw materials needed by industry и more than 75% of энергия requirements are imported. Over the past decade, Италия has pursued a tight fiscal policy in order to meet the requirements of the Economic и Monetary Unions и has benefited from lower interest и inflation rates. The current government has enacted numerous short-term reforms aimed at improving competitiveness и long-term growth. Италия has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden и overhauling Италия's rigid labor market и over-generous pension system, because of the current economic slowdown и opposition from labor unions. But the leadership faces a severe economic constraint: Италия's official debt remains above 100% от ВВП, и the government has found it difficult to bring the budget deficit down to a level that would allow a rapid decrease in that debt. The economy continues to grow by less than the euro-zone average и growth is expected to decelerate from 1.9% in 2006 и 2007 to under 1.5% in 2008 as the euro-zone и world economies slow.

The Jamaican economy is heavily dependent on services, which now account for more than 60% от ВВП. The country continues to derive most of its foreign exchange from tourism, remittances, и боксит/alumina. Remittances account for nearly 20% от ВВП и are equivalent to tourism revenues. Ямайка's economy, already saddled with a record of sluggish growth, will suffer an economic setback from damages caused by Hurricane Dean in August 2007. The economy faces serious long-term problems: high but declining interest rates, increased foreign competition, exchange rate instability, a sizable merchandise trade deficit, large-scale unemployment и underemployment, и a debt-to-GDP ratio of 135%. Ямайка's onerous debt burden - the fourth highest per capita - is the result of government bailouts to ailing sectors of the economy, most notably the financial sector in the mid-to-late 1990s. Inflation also has declined, standing at about 7% at the end of 2007. High unemployment exacerbates the serious crime problem, including gang violence that is fueled by the drug trade. The GOLDING administration faces the difficult prospect of having to achieve fiscal discipline in order to maintain debt payments while simultaneously attacking a serious и growing crime problem that is hampering economic growth.

Правление-industry cooperation, a strong work ethic, mastery of high technology, и a comparatively small defense allocation (1% от ВВП) helped Япония advance with extraordinary rapidity to the rank of second most technologically powerful economy in the world после the US и the third-largest economy in the world после the US и Китай, measured on a purchasing power parity (PPP) basis. One notable characteristic of the economy has been how manufacturers, suppliers, и distributors have worked together in closely-knit groups called keiretsu. A second basic feature has been the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features have now eroded. Япония's industrial sector is heavily dependent on imported raw materials и fuels. The tiny agricultural sector is highly subsidized и protected, with crop yields among the highest in the world. Usually self sufficient in рис, Япония must import about 55% of its food on a caloric basis. Япония maintains один of the world's largest рыболовство fleets и accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, и a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the после effects of overinvestment и an asset price bubble during the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, и labor. From 2000 to 2001, government efforts to revive economic growth proved short lived и were hampered by the slowing of the US, European, и азиаты economies. In 2002-07, growth improved и the lingering fears of deflation in prices и economic activity lessened, leading the central bank to raise interest rates to 0.25% in July 2006, up from the near 0% rate of the six лет prior, и to 0.50% in February 2007. In addition, the 10-year privatization Японии Post, which has functioned not only as the national postal delivery system but also, through its banking и insurance facilities as Япония's largest financial institution, was completed in October 2007, marking a major milestone in the process of structural reform. Nevertheless, Япония's huge government debt, which totals 182% от ВВП, и the aging of the population are two major long-run problems. Some fear that a rise in taxes could endanger the current economic recovery. Debate also continues on the role of и effects of reform in restructuring the economy, particularly with respect to increasing income disparities.

Джерси: коронная земля Великобритании's economy is based on international financial services, agriculture, и tourism. In 2005 the finance sector accounted for about 50% of the island's output. Potatoes, cauliflower, tomatoes, и especially flowers are important export crops, shipped mostly to the Великобритания. The Джерси: коронная земля Великобритании breed of dairy cattle is known worldwide и represents an important export income earner. Milk products go to the Великобритания и other EU countries. Tourism accounts for один-quarter от ВВП. In recent лет, the government has encouraged light industry to locate in Джерси: коронная земля Великобритании, with the result that an производство электроники industry has developed alongside the traditional обрабатывающая промышленность of knitwear. All raw material и энергия requirements are imported, as well as a large share Джерси: коронной земли Великобритании's food needs. Light taxes и death duties make the island a popular tax haven. Living standards come close to those of the Великобритания.

Иордания is a small Arab country with insufficient supplies of water, нефть, и other natural resources. Poverty, unemployment, и inflation are fundamental problems, but King ABDALLAH II, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Since Иордания's graduation from its most recent IMF program in 2002, Amman has continued to follow IMF guidelines, practicing careful monetary policy, making substantial headway with privatization, и opening the trade regime. Иордания's exports have significantly increased under the free trade accord with the US и Jordanian Qualifying Industrial Zones (QIZ), which allow Иордания to export goods duty free to the US. In 2006, Иордания reduced its debt-to-GDP ratio significantly. These measures have helped improve productivity и have made Иордания more attractive for foreign investment. Before the US-led war in Ирак, Иордания imported most of its нефть from Ирак. Since 2003, however, Иордания has been more dependent on нефть from other Gulf nations. The government ended subsidies for нефть и other товары народного потребления in 2008 in an effort to control the budget. The main challenges facing Иордания are reducing dependence on foreign grants, reducing the budget deficit, attracting investments, и creating jobs.

Казахстан, the largest of the former Soviet republics in territory, excluding Россия, possesses enormous fossil fuel reserves и plentiful supplies of other minerals и metals. It also has a large agricultural sector featuring livestock и grain. Казахстан's industrial sector rests on the добывающая промышленность и processing of these natural resources. The breakup of the USSR in December 1991 и the collapse in demand for Казахстан's traditional heavy industry products resulted in a short-term contraction of the economy, with the steepest annual decline occurring in 1994. In 1995-97, the pace of the government program of economic reform и privatization quickened, resulting in a substantial shifting of assets into the private sector. Казахстан enjoyed double-digit growth in 2000-01 - 8% или more per year in 2002-07 - thanks largely to its booming энергия sector, but also to economic reform, good harvests, и foreign investment. Inflation, however, jumped to more than 10% in 2007. In the энергия sector, the opening of the Caspian Consortium pipeline in 2001, from western Казахстан's Tengiz oilfield to the Черное море, substantially raised export capacity. In 2006 Казахстан completed the Atasu-Alashankou portion of an нефть pipeline to Китай that is planned in future construction to extend from the country's Caspian coast eastward to the Chinese border. The country has embarked upon an industrial policy designed to diversify the economy away from overdependence on the нефть sector by developing its обрабатывающая промышленность potential. The policy aims to reduce the influence of foreign investment и foreign personnel. The government has engaged in several disputes with foreign нефть companies over the terms of production agreements; tensions continue. Upward pressure on the local currency continued in 2007 due to massive нефть-related foreign-exchange inflows. Aided by strong growth и foreign exchange earnings, Казахстан aspires to become a regional financial center и has created a banking system comparable to those in Центральная Европа.

The regional hub for trade и finance in East Africa, Кения has been hampered by corruption и by reliance upon several primary goods whose prices have remained low. In 1997, the IMF suspended Кения's Enhanced Structural Adjustment Program due to the government's failure to maintain reforms и curb corruption. A severe drought from 1999 to 2000 compounded Кения's problems, causing water и энергия rationing и reducing agricultural output. As a result, GDP contracted by 0.2% in 2000. The IMF, which had resumed loans in 2000 to help Кения through the drought, again halted lending in 2001 when the government failed to institute several anticorruption measures. Despite the return of strong rains in 2001, weak commodity prices, endemic corruption, и low investment limited Кения's economic growth to 1.2%. Growth lagged at 1.1% in 2002 because of erratic rains, low investor confidence, meager donor support, и political infighting up to the elections. In the key December 2002 elections, Daniel Arap MOI's 24-year-old reign ended, и a new opposition government took on the formidable economic problems facing the nation. After some early progress in rooting out corruption и encouraging donor support, the KIBAKI government was rocked by high-level graft scandals in 2005 и 2006. In 2006 the Мир Bank и IMF delayed loans pending action by the government on corruption. The international financial institutions и donors have since resumed lending, despite little action on the government's part to deal with corruption. The scandals have not weighed down growth, with estimated real GDP growth at more than 6 percent in 2007.

A remote country of 33 scattered coral atolls, Кирибати has few natural resources. Commercially viable phosphate deposits were exhausted at the time of independence from the Великобритания in 1979. Copra и рыба now represent the bulk of production и exports. The economy has fluctuated widely in recent лет. Economic development is constrained by a shortage of skilled workers, weak infrastructure, и remoteness from international markets. Tourism provides more than один-fifth от ВВП. Private sector initiatives и a financial sector are in the early stages of development. Foreign financial aid from Великобритания, Япония, Австралия, Новая Зеландия, и Китай equals more than 10% от ВВП. Remittances from seamen on merchant ships abroad account for more than $5 миллионов each year. Кирибати receives around $15 миллионов annually for the government budget from an Australian trust fund.

Северный Korea, один of the world's most centrally directed и least open economies, faces chronic economic problems. Industrial capital stock is nearly beyond repair as a result of лет of underinvestment и shortages of spare parts. Industrial и power output have declined in parallel from pre-1990 levels. Due in part to severe summer наводнения followed by dry weather conditions in the fall of 2006, the nation suffered its 13th year of food shortages because of on-going systemic problems including a lack of пахотные земли, collective фермерство practices, и persistent shortages of tractors и fuel. During the summer of 2007, severe наводнения again occurred. Large-scale international food aid deliveries have allowed the people of Северный Korea to escape widespread starvation since famine threatened in 1995, but the population continues to suffer from prolonged malnutrition и poor living conditions. Large-scale military spending draws off resources needed for investment и civilian consumption. Since 2002, the government has formalized an arrangement whereby private "farmers' markets" were allowed to begin selling a wider range of goods. It also permitted some private фермерство on an experimental basis in an effort to boost agricultural output. In October 2005, the government tried to reverse some of these policies by forbidding private sales of grains и reinstituting a centralized food rationing system. By December 2005, the government terminated most international humanitarian assistance operations in Северный Korea (calling instead for developmental assistance only) и restricted the activities of remaining international и non-governmental aid organizations such as the Мир Food Program. External food aid now comes primarily from Китай и South Korea in the form of grants и long-term concessional loans. During the October 2007 summit, South Korea also agreed to develop some of Северный Korea's infrastructure и natural resources и light industry. Firm political control remains the Communist government's overriding concern, which will likely inhibit the loosening of economic regulations.

Since the 1960s, South Korea has achieved an incredible record of growth и integration into the high-tech modern world economy. Four decades ago, GDP per capita was comparable with levels in the poorer countries of Africa и Азия. In 2004, South Korea joined the триллионов dollar club of world economies. Today its GDP per capita is roughly the same as that Греции и Испания. This success was achieved by a system of close government/business ties including directed credit, import restrictions, sponsorship of specific industries, и a strong labor effort. The government promoted the import of raw materials и technology at the expense of товары народного потребления и encouraged savings и investment over consumption. The азиаты financial crisis of 1997-98 exposed longstanding weaknesses in South Korea's development model including high debt/equity ratios, massive foreign borrowing, и an undisciplined financial sector. GDP plunged by 6.9% in 1998, then recovered by 9.5% in 1999 и 8.5% in 2000. Growth fell back to 3.3% in 2001 because of the slowing global economy, falling exports, и the perception that much-needed corporate и financial reforms had stalled. Led by consumer spending и exports, growth in 2002 was an impressive 7%, despite anemic global growth. Between 2003 и 2007, growth moderated to about 4-5% annually. A downturn in consumer spending was offset by rapid export growth. Moderate inflation, low unemployment, и an export surplus in 2007 characterize this solid economy, but inflation и unemployment are increasing in the face of rising нефть prices.

Over the past few лет Косовo's economy has shown significant progress in transitioning to a market-based system, but it is still highly dependent on the international community и the diaspora for financial и технический персонал assistance. Remittances from the diaspora - located mainly in Германия и Швейцария - account for about 30% от ВВП. Косовo's citizens are the poorest in Europe with an average annual per capita income of only $1800 - about один-third the level of neighboring Албания. Unemployment - at more than 40% of the population - is a severe problem that encourages outward migration. Most Косовo's population lives in rural towns outside of the capital, Pristina. Inefficient, near-subsistence фермерство is common - the result of small plots, limited mechanization, и lack of технический персонал expertise. Economic growth is largely driven by the private sector - mostly small-scale retail businesses. With international assistance, Косовo has been able to privatize 50% of its state-owned enterprises (SOEs) by number, и over 90% of SOEs by value. Minerals и metals - including lignite, свинец, цинк, никель, chrome, aluminum, magnesium, и a wide variety of construction materials - once formed the backbone of industry, but output has declined because investment has been insufficient to replace ageing Eastern Bloc equipment. Technical и financial problems in the power sector also impedes industrial development. The US has worked with the Мир Bank to prepare a commercial tender for the development of new power generating и добыча полезных ископаемых capacity. The official currency Косовo is the euro, but the Serbian dinar is also used in the Serb enclaves. Косовo's tie to the euro has helped keep inflation low. Косовo has maintained a budget surplus as a result of efficient tax collection и inefficient budget execution. While maintaining ultimate oversight, UNMIK continues to work with the EU и with Косовo's government to accelerate economic growth, lower unemployment, и attract foreign investment. In order to help integrate Косовo into regional economic structures, UNMIK signed (on behalf Косовo) its accession to the Центральная Европа Free Trade Area (CEFTA) in 2006. In February 2008, UNMIK also represented Косовo at the newly established Regional Cooperation Council (RCC).

Кювейт is a small, rich, relatively open economy with self-reported сырая нефть reserves of about 104 миллиардов: barrels - 10% of world reserves. Petroleum accounts for nearly half от ВВП, 95% of export revenues, и 80% of government income. High нефть prices in recent лет have helped build Кювейт's budget и trade surpluses и foreign reserves. As a result of this positive fiscal situation, the need for economic reforms is less urgent и the government has not earnestly pushed through new initiatives. Despite its vast нефть reserves, Кювейт experienced power outages during the summer months in 2006 и 2007 because demand exceeded power generating capacity. Power outages are likely to worsen, given its high population growth rates, unless the government can increase generating capacity. In May 2007 Кювейт changed its currency peg from the доллар США to a basket of currencies in order to curb inflation и to reduce its vulnerability to external shocks.

Киргизия is a poor, mountainous country with a predominantly agricultural economy. Cotton, tobacco, wool, и meat are the main продукты сельского хозяйства, although only tobacco и хлопок are exported in any quantity. Industrial exports include золото, ртуть, уран, природный газ, и electricity. Following independence, Киргизия was progressive in carrying out market reforms such as an improved regulatory system и land reform. Киргизия was the first Commonwealth of Independent States (CIS) country to be accepted into the Мир Trade Organization. Much of the government's stock in enterprises has been sold. Drops in production had been severe после the breakup of the Soviet Union in December 1991, but by mid-1995, production began to recover и exports began to increase. The economy is heavily weighted toward золото export и a drop in output at the main Kumtor золото mine sparked a 0.5% decline in GDP in 2002 и a 0.6% decline in 2005. GDP grew more than 6% in 2007, partly due to higher золото prices internationally. The government made steady strides in controlling its substantial fiscal deficit, nearly closing the gap between revenues и expenditures in 2006, before boosting expenditures more than 20% in 2007. The government и international financial institutions have been engaged in a comprehensive medium-term poverty reduction и economic growth strategy. In 2005, Bishkek agreed to pursue much-needed tax reform и, in 2006, became eligible for the heavily indebted poor countries (HIPC) initiative. Progress fighting corruption, further restructuring of domestic industry, и success in attracting foreign investment are keys to future growth.

The government Лаоcа, один of the few remaining один-party Communist states, began decentralizing control и encouraging private enterprise in 1986. The results, starting from an extremely low base, were striking - growth averaged 6% per year in 1988-2007 except during the short-lived drop caused by the азиаты financial crisis beginning in 1997. Despite this high growth rate, Лаоc remains a country with a underdeveloped infrastructure, particularly in rural areas. It has no railroads, a rudimentary road system, и limited external и internal телекоммуникации, though the government is sponsoring major improvements in the road system with support from Япония и Китай. Electricity is available in urban areas и in most rural districts. Subsistence agriculture, dominated by рис, accounts for about 40% от ВВП и provides 80% of total employment. The economy will continue to benefit from aid from international donors и from foreign investment in hydropower и добыча полезных ископаемых. Construction will be another strong economic driver, especially as hydroelectric dam и road projects gain steam. Several policy changes since 2004 may help spur growth. In late 2004, Лаоc gained Normal Trade Relations status with the US, allowing Лаоc-based producers to benefit from lower tariffs on exports. Лаоc is taking steps to join the Мир Trade Organization in the next few лет; the resulting trade policy reforms will improve the business environment. On the fiscal side, a value-added tax (VAT) regime, slated to begin in 2008, should help streamline the government's inefficient tax system.

Латвия's economy experienced GDP growth of more than 10% per year during 2006-07. The majority of companies, banks, и real estate have been privatized, although the state still holds sizable stakes in a few large enterprises. Латвия officially joined the Мир Trade Organization in February 1999. EU membership, a top foreign policy goal, came in May 2004. The current account deficit - more than 22% от ВВП in 2007 - и inflation - at nearly 10% per year - remain major concerns.

The 1975-90 civil war seriously damaged Ливан's economic infrastructure, cut national output by half, и all but ended Ливан's position as a Middle Eastern entrepot и banking hub. In the лет since, Ливан has rebuilt much of its war-torn physical и financial infrastructure by borrowing heavily - mostly from domestic banks. In an attempt to reduce the ballooning national debt, the Rafiq HARIRI government began an austerity program, reining in government expenditures, increasing revenue collection, и privatizing state enterprises, but economic и financial reform initiatives stalled и public debt continued to grow despite receipt of more than $2 миллиардов: in bilateral assistance at the Paris II Donors Conference. The Israeli-Hizballah conflict in July-August 2006 caused an estimated $3.6 миллиардов: in infrastructure damage, и prompted international donors to pledge nearly $1 миллиардов: in recovery и reconstruction assistance. Donors met again in January 2007 и pledged over $7.5 миллиардов: to Ливан for development projects и budget support, conditioned on progress on Beirut's fiscal reform и privatization program. Internal Lebanese political tension continues to hamper economic activity, particularly in the tourism и retail sectors.

Small, landlocked, и mountainous, Лесото relies on remittances from miners employed in Южно-Африканская Республика и customs duties from the Southern Africa Customs Union for the majority of government revenue. However, the government has recently strengthened its tax system to reduce dependency on customs duties. Completion of a major hydropower facility in January 1998 permitted the sale of water to Южно-Африканская Республика и generated royalties for Лесото. Лесото produces about 90% of its own electrical power needs. As the number of mineworkers has declined steadily over the past several лет, a small обрабатывающая промышленность base has developed based on farm products that support the milling, canning, leather, и jute industries, as well as a rapidly expanding apparel-assembly sector. The latter has grown significantly mainly due to Лесото qualifying for the trade benefits contained in the Africa Growth и Opportunity Act. The economy is still primarily based on subsistence agriculture, especially livestock, although drought has decreased agricultural activity. The extreme inequality in the distribution of income remains a major drawback. Лесото has signed an Interim Poverty Reduction и Growth Facility with the IMF. In July 2007, Лесото signed a Millennium Challenge Account Compact with the US worth $362.5 миллионов.

Civil war и government mismanagement destroyed much Либерии's economy, especially the infrastructure in и around the capital, Monrovia. Many businesses fled the country, taking capital и expertise with them, but with the conclusion of fighting и the installation of a democratically-elected government in 2006, some have returned. Richly endowed with water, mineral resources, forests, и a climate favorable to agriculture, Либерия had been a producer и exporter of basic products - primarily raw леса и rubber. Local обрабатывающая промышленность, mainly foreign owned, had been small in scope. Президент JOHNSON SIRLEAF, a Harvard-trained banker и administrator, has taken steps to reduce corruption, build support from international donors, и encourage private investment. Embargos on леса и diamond exports have been lifted, opening new sources of revenue for the government. The reconstruction of infrastructure и the raising of incomes in this ravaged economy will largely depend on generous financial и технический персонал assistance from donor countries и foreign investment in key sectors, such as infrastructure и power generation.

The Libyan economy depends primarily upon revenues from the нефть sector, which contribute about 95% of export earnings, about один-quarter от ВВП, и 60% of public sector wages. Substantial revenues from the энергия sector coupled with a small population give Либия один of the highest per capita GDPs in Africa, but little of this income flows down to the lower orders of society. Libyan officials in the past five лет have made progress on economic reforms as part of a broader campaign to reintegrate the country into the international fold. This effort picked up steam после UN sanctions were lifted in September 2003 и as Либия announced in December 2003 that it would abandon programs to build weapons of mass destruction. Almost all US unilateral sanctions against Либия were removed in April 2004, helping Либия attract more foreign direct investment, mostly in the энергия sector. Libyan нефть и газ licensing rounds continue to draw high international interest; the National Oil Company set a goal of nearly doubling нефть production to 3 миллионов баррелей в день by 2015. Либия faces a long road ahead in liberalizing the socialist-oriented economy, but initial steps - including applying for WTO membership, reducing some subsidies, и announcing plans for privatization - are laying the groundwork for a transition to a more market-based economy. The non-нефть обрабатывающая промышленность и construction sectors, which account for more than 20% от ВВП, have expanded from processing mostly продукты сельского хозяйства to include the production of petrochemicals, железная руда, steel, и aluminum. Climatic conditions и poor soils severely limit agricultural output, и Либия imports about 75% of its food. Либия's primary agricultural water source remains the Great Manmade River Project, but significant resources are being invested in desalinization research to meet growing water demands.

Despite its small size и limited natural resources, Лихтенштейн has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector и living standards on a par with its large European neighbors. The Лихтенштейн economy is widely diversified with a large number of small businesses. Low business taxes - the maximum tax rate is 20% - и easy incorporation rules have induced many holding или so-called letter box companies to establish nominal offices in Лихтенштейн , providing 30% of state revenues. The country participates in a customs union with Швейцария и uses the Swiss franc as its national currency. It imports more than 90% of its энергия requirements. Лихтенштейн has been a member of the European Economic Area (an organization serving as a bridge between the European Free Trade Association (EFTA) и the EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe.

Литва, the Baltic state that has conducted the most trade with Россия, has grown rapidly since rebounding from the 1998 Russian financial crisis. Unemployment fell to 3.2% in 2007 while wages continued to grow at double digit rates, contributing to rising inflation. Exports и imports also grew strongly, и the current account deficit rose to nearly 15% от ВВП in 2007. Trade has been increasingly oriented toward the West. Литва has gained membership in the Мир Trade Organization и joined the EU in May 2004. Privatization of the large, state-owned utilities is nearly complete. Foreign government и business support have helped in the transition from the old command economy to a market economy.

This stable, high-income economy - benefiting from its proximity to Франция, Бельгия, и Германия - features solid growth, low inflation, и low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include химическая промышленность, rubber, и other products. Growth in the financial sector, which now accounts for about 28% от ВВП, has more than compensated for the decline in steel. Most banks are foreign owned и have extensive foreign dealings. Agriculture is based on small family-owned farms. The economy depends on foreign и cross-border workers for about 60% of its labor force. Although Люксембург, like all EU members, suffered from the global economic slump in the early part of this decade, the country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks second in the world, после Катар. After two лет of strong economic growth in 2006-07, turmoil in the world financial markets will slow Люксембург's economy in 2008, but growth will remain above the European average.

Macau's economy has enjoyed strong growth in recent лет on the back of its expanding tourism и gaming sectors. Since opening up its locally-controlled casino industry to foreign competition in 2001, the territory has attracted tens of billions of dollars in foreign investment that have helped transform it into the world's largest gaming center. In 2006, Macau's gaming revenue surpassed that of the Las Vegas strip, и gaming-related taxes accounted for 75% of total government revenue. The expanding casino sector, и Китай's decision beginning in 2002 to relax travel restrictions, have reenergized Macau's tourism industry, which saw total visitors grow to 27 миллионов in 2007, up 62% in three лет. Macau's strong economic growth has put pressure its labor market prompting businesses to look abroad to meet their staffing needs. The resulting influx of non-resident workers, who totaled один-fifth of the workforce in 2006, has fueled tensions among some segments of the population. Macau's traditional обрабатывающая промышленность industry has been in a slow decline. In 2006, exports of textiles и garments generated only $1.8 миллиардов: compared to $6.9 миллиардов: in gross gaming receipts. Macau's textile industry will continue to move to the mainland because of the termination in 2005 of the Multi-Fiber Agreement, which provided a near guarantee of export markets, leaving the territory more dependent on gambling и trade-related services to generate growth. However, the Closer Economic Partnership Agreement (CEPA) between Macau и mainland Китай that came into effect on 1 January 2004 offers many Macau-made products tariff-free access to the mainland. Macau's currency, the Pataca, is closely tied to the Гонконг dollar, which is also freely accepted in the territory.

At independence in September 1991, Македония was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods и services. The collapse of Yugoslavia ended transfer payments from the central government и eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the downsized Yugoslavia, и a Greek economic embargo over a dispute about the country's constitutional name и flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. In 2001, during a civil conflict, the economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, и investor uncertainty. Growth barely recovered in 2002 to 0.9%, then averaged 4% per year during 2003-07, expanding to 5.1% in 2007. Македония has maintained macroeconomic stability with low inflation, but it has so far lagged the region in attracting foreign investment и creating jobs, despite making extensive fiscal и business sector reforms. Official unemployment remains high at nearly 35%, but may be overstated based on the existence of an extensive gray market, estimated to be more than 20 percent от ВВП, that is not captured by official statistics.

Having discarded past socialist economic policies, Мадагаскар has since the mid 1990s followed a Мир Bank- и IMF-led policy of privatization и liberalization. This strategy placed the country on a slow и steady growth path from an extremely low level. Agriculture, including рыболовство и лесоводство, is a mainstay of the economy, accounting for more than один-fourth от ВВП и employing 80% of the population. Exports of apparel have boomed in recent лет primarily due to duty-free access to the US. Deforestation и erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. Президент RAVALOMANANA has worked aggressively to revive the economy following the 2002 political crisis, which triggered a 12% drop in GDP that year. Poverty reduction и combating corruption will be the centerpieces of economic policy for the next few лет.

Landlocked Малави ranks among the world's most densely populated и least developed countries. The economy is predominately agricultural with about 85% of the population living in rural areas. Agriculture accounts for more than один-third от ВВП и 90% of export revenues. The performance of the tobacco sector is key to short-term growth as tobacco accounts for more than half of exports. The economy depends on substantial inflows of economic assistance from the IMF, the Мир Bank, и individual donor nations. In December 2007, the US granted Малави eligibility status to receive financial support within the Millennium Challenge Corporation (MCC) initiative. Малави will now begin a consultative process to develop a five-year program before funding can begin. In 2006, Малави was approved for relief under the Heavily Indebted Poor Countries (HIPC) program. The government faces many challenges including developing a market economy, improving educational facilities, facing up to environmental problems, dealing with the rapidly growing problem of HIV/AIDS, и satisfying foreign donors that fiscal discipline is being tightened. In 2005, Президент MUTHARIKA championed an anticorruption campaign. Since 2005 Президент MUTHARIKA'S government has exhibited improved financial discipline under the guidance of Finance Minister Goodall GONDWE и signed a three year Poverty Reduction и Growth Facility worth $56 миллионов with the IMF. Improved relations with the IMF свинец other international donors to resume aid as well.

Малазия, a middle-income country, has transformed itself since the 1970s from a producer of raw materials into an emerging multi-sector economy. Since coming to office in 2003, Премьер Министр ABDULLAH has tried to move the economy farther up the value-added production chain by attracting investments in high technology industries, medical technology, и pharmaceuticals. The Правление Малазии is continuing efforts to boost domestic demand to wean the economy off of its dependence on exports. Nevertheless, exports - particularly of производство электроники - remain a significant driver of the economy. As an нефть и газ exporter, Малазия has profited from higher world энергия prices, although the rising cost of domestic gasoline и diesel fuel forced Kuala Lumpur to reduce government subsidies. Малазия "unpegged" the ringgit from the доллар США in 2005 и the currency appreciated 6% per year against the dollar in 2006-07. Although this has helped to hold down the price of imports, inflationary pressures began to build in 2007. Healthy foreign exchange reserves и a small external debt greatly reduce the risk that Малазия will experience a financial crisis over the near term similar to the один in 1997. The government presented its five-year national development agenda in April 2006 through the Ninth Малазия Plan, a comprehensive blueprint for the allocation of the national budget from 2006-10. With national elections expected within the year, ABDULLAH has unveiled a series of ambitious development schemes for several regions that have had trouble attracting business investment. Real GDP growth has averaged about 6% per year under ABDULLAH, but regions outside of Kuala Lumpur и the обрабатывающая промышленность hub Penang have not fared as well.

Tourism, Мальдивы' largest industry, accounts for 28% от ВВП и more than 60% of the Мальдивы' foreign exchange receipts. Over 90% of government tax revenue comes from import duties и tourism-related taxes. Fishing is the second leading sector. Agriculture и обрабатывающая промышленность continue to play a lesser role in the economy, constrained by the limited availability of cultivable land и the shortage of domestic labor. Most staple foods must be imported. Industry, which consists mainly of garment production, boat building, и handicrafts, accounts for about 7% от ВВП. The Maldivian Правление began an economic reform program in 1989 initially by lifting import quotas и opening some exports to the private sector. Subsequently, it has liberalized regulations to allow more foreign investment. Real GDP growth averaged over 7.5% per year for more than a decade. In late December 2004, a major tsunami left more than 100 dead, 12,000 displaced, и property damage exceeding $300 миллионов. As a result of the tsunami, the GDP contracted by about 3.6% in 2005. A rebound in tourism, post-tsunami reconstruction, и development of new resorts helped the economy recover quickly. The trade deficit has expanded sharply as a result of high нефть prices и imports of construction material. Diversifying beyond tourism и рыболовство и increasing employment are the major challenges facing the government. Over the longer term Maldivian authorities worry about the impact of erosion и possible global warming on their low-lying country; 80% of the area is 1 meter или less above sea level.

Мали is among the poorest countries in the world, with 65% of its land area desert или semidesert и with a highly unequal distribution of income. Economic activity is largely confined to the riverine area irrigated by the Нигер. About 10% of the population is nomadic и some 80% of the labor force is engaged in фермерство и рыболовство. Industrial activity is concentrated on processing farm commodities. Мали is heavily dependent on foreign aid и vulnerable to fluctuations in world prices for хлопок, its main export, along with золото. The government has continued its successful implementation of an IMF-recommended structural adjustment program that is helping the economy grow, diversify, и attract foreign investment. Мали's adherence to economic reform и the 50% devaluation of the CFA franc in January 1994 have pushed up economic growth to a 5% average in 1996-2007. Worker remittances и external trade routes for the landlocked country have been jeopardized by continued unrest in neighboring Кот-д’Ивуар.

US Правление assistance is the mainstay of this tiny island economy. The Маршалловы Острова received more than $1 миллиардов: in aid from the US from 1986-2002. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts и breadfruit. Small-scale industry is limited to handicrafts, tuna processing, и copra. The tourist industry, now a small source of foreign exchange employing less than 10% of the labor force, remains the best hope for future added income. The islands have few natural resources, и imports far exceed exports. Under the terms of the Amended Compact of Free Association, the US will provide millions of dollars per year to the Маршалловы Острова (RMI) through 2023, at which time a Trust Fund made up of US и RMI contributions will begin perpetual annual payouts. Правление downsizing, drought, a drop in construction, the decline in tourism, и less income from the renewal of рыболовство vessel licenses have held GDP growth to an average of 1% over the past decade.

Half the population still depends on agriculture и livestock for a livelihood, even though many of the nomads и subsistence farmers were forced into the cities by recurrent засухи in the 1970s и 1980s. Мавритания has extensive deposits of железная руда, which account for nearly 40% of total exports. The nation's coastal waters are among the richest рыболовство areas in the world, but overexploitation by foreigners threatens this key source of revenue. The country's first deepwater port opened near Nouakchott in 1986. In the past, drought и economic mismanagement resulted in a buildup of foreign debt, which now stands at more than three times the level of annual exports. In February 2000, Мавритания qualified for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative и in December 2001 received strong support from donor и lending countries at a triennial Consultative Group review. A new investment code approved in December 2001 improved the opportunities for direct foreign investment. Ongoing negotiations with the IMF involve problems of economic reforms и fiscal discipline. In 2001, exploratory нефть wells in tracts 80 км offshore indicated potential добывающая промышленность at current world нефть prices. Oil prospects, while initially promising, have failed to materialize. Meantime the government emphasizes reduction of poverty, improvement of health и education, и promoting privatization of the economy.

Since independence in 1968, Маврикий has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, и tourist sectors. For most of the period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, и a much-improved infrastructure. The economy rests on sugar, tourism, textiles и apparel, и financial services, и is expanding into рыба processing, information и communications technology, и hospitality и property development. Sugarcane is grown on about 90% of the cultivated land area и accounts for 15% of export earnings. The government's development strategy centers on creating vertical и horizontal clusters of development in these sectors. Маврикий has attracted more than 32,000 offshore entities, many aimed at commerce in Индия, Южно-Африканская Республика, и Китай. Investment in the banking sector alone has reached over $1 миллиардов:. Маврикий, with its strong textile sector, has been well poised to take advantage of the Africa Growth и Opportunity Act (AGOA).

Economic activity is based primarily on the agricultural sector, including рыболовство и livestock raising. Майотта: заморская территория Франции is not self-sufficient и must import a large portion of its food requirements, mainly from Франция. The economy и future development of the island are heavily dependent on French financial assistance, an important supplement to GDP. Майотта: заморская территория Франции's remote location is an obstacle to the development of tourism.

Мексика has a free market economy in the триллионов dollar class. It contains a mixture of modern и outmoded industry и agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, телекоммуникации, electricity generation, природный газ distribution, и airports. Per capita income is один-fourth that of the US; income distribution remains highly unequal. Trade with the US и Канада has tripled since the implementation of NAFTA in 1994. Мексика has 12 free trade agreements with over 40 countries including, Гватемала , Гондурас, Сальвадор, the European Free Trade Area, и Япония, putting more than 90% of trade under free trade agreements. In 2007, during his first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass a pension и a fiscal reform. The administration continues to face many economic challenges including the need to upgrade infrastructure, modernize labor laws, и allow private investment in the энергия sector. CALDERON has stated that his top economic priorities remain reducing poverty и creating jobs.

Economic activity consists primarily of subsistence фермерство и рыболовство. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remote location, a lack of adequate facilities, и limited air connections hinder development. Under the original terms of the Compact of Free Association, the US provided $1.3 миллиардов: in grant aid during the period 1986-2001; the level of aid has been subsequently reduced. The Amended Compact of Free Association with the US guarantees the Federated States of Micronesia (FSM) millions of dollars in annual aid through 2023, и establishes a Trust Fund into which the US и the FSM make annual contributions in order to provide annual payouts to the FSM in perpetuity после 2023. The country's medium-term economic outlook appears fragile due not only to the reduction in US assistance but also to the current slow growth of the private sector.

Молдавия remains один of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate и good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring фрукты, овощи, wine, и tobacco. Молдавия must import almost all of its энергия supplies. Молдавия's dependence on Russian энергия was underscored at the end of 2005, when a Russian-owned electrical station in Молдавия's separatist Transnistria region cut off power to Молдавия и Россия's Gazprom cut off природный газ in disputes over pricing. Россия's decision to ban Moldovan wine и продукты сельского хозяйства, coupled with its decision to double the price Молдавия paid for Russian природный газ, slowed GDP growth in 2006. However, in 2007 growth returned to the 6% level Молдавия had achieved in 2000-05, boosted by Россия's partial removal of the bans, solid fixed capital investment, и strong domestic demand driven by remittances from abroad. Economic reforms have been slow because of corruption и strong political forces backing government controls. Nevertheless, the government's primary goal of EU integration has resulted in some market-oriented progress. The granting of EU trade preferences и increased exports to Россия will encourage higher growth rates in 2008, but the agreements are unlikely to serve as a panacea, given the extent to which export success depends on higher quality standards и other factors. The economy remains vulnerable to higher fuel prices, poor agricultural weather, и the skepticism of foreign investors. Also, the presence of an illegal separatist regime in Молдавия's Transnistria region continues to be a drag on the Moldovan economy.

Монако, bordering Франция on the Mediterranean coast, is a popular resort, attracting tourists to its casino и pleasant climate. The principality also is a major banking center и has successfully sought to diversify into services и small, high-value-added, nonpolluting industries. The state has no income tax и low business taxes и thrives as a tax haven both for individuals who have established residence и for foreign companies that have set up businesses и offices. The state retains monopolies in a number of sectors, including tobacco, the telephone network, и the postal service. Living standards are high, roughly comparable to those in prosperous French metropolitan areas.

Economic activity in Монголия has traditionally been based on herding и agriculture. Монголия has extensive mineral deposits. Copper, каменный уголь, золото, молибден, fluorspar, уран, tin, и вольфрам account for a large part of industrial production и foreign direct investment. Soviet assistance, at its height один-third от ВВП, disappeared almost overnight in 1990 и 1991 at the time of the dismantlement of the USSR. The following decade saw Монголия endure both deep recession because of political inaction и natural disasters, as well as economic growth because of reform-embracing, free-market economics и extensive privatization of the formerly state-run economy. Severe winters и summer засухи in 2000-02 resulted in massive livestock die-off и zero или negative GDP growth. This was compounded by falling prices for Монголия's primary sector exports и widespread opposition to privatization. Growth was 10.6% in 2004, 5.5% in 2005, 7.5% in 2006, и 9.9% in 2007 largely because of high медь prices и new золото production. Монголия is experiencing its highest inflation rate in over a decade as consumer prices in 2007 rose 15%, largely because of increased fuel и food costs. Монголия's economy continues to be heavily influenced by its neighbors. For example, Монголия purchases 95% of its нефтяные продукты и a substantial amount of electric power from Россия, leaving it vulnerable to price increases. Trade with Китай represents more than half Монголии's total external trade - Китай receives about 70% Монголии's exports. Remittances from Mongolians working abroad both legally и illegally are sizable, и money laundering is a growing concern. Монголия settled its $11 миллиардов: debt with Россия at the end of 2003 on favorable terms. Монголия, which joined the Мир Trade Organization in 1997, seeks to expand its participation и integration into азиаты regional economic и trade regimes.

Монтенегро severed its economy from federal control и from Сербия during the MILOSEVIC era и maintained its own central bank, used the euro instead of the Yugoslav dinar as official currency, collected customs tariffs, и managed its own budget. The dissolution of the loose political union between Сербия и Монтенегро in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction и Development. On 18 January 2007, Монтенегро joined the Мир Bank и IMF. Монтенегро is pursuing its own membership in the Мир Trade Organization as well as negotiating a Stabilization и Association agreement with the Европейское сообщество in anticipation of eventual membership. Severe unemployment remains a key political и economic problem for this entire region. Монтенегро has privatized its large aluminum complex - the dominant industry - as well as most of its financial sector, и has begun to attract foreign direct investment in the tourism sector.

Severe volcanic activity, which began in July 1995, has put a damper on this small, open economy. A catastrophic eruption in June 1997 closed the airports и seaports, causing further economic и social dislocation. Two-thirds of the 12,000 inhabitants fled the island. Some began to return in 1998, but lack of housing limited the number. The agriculture sector continued to be affected by the lack of suitable land for фермерство и the destruction of crops. Prospects for the economy depend largely on developments in relation to the volcanic activity и on public sector construction activity. The Великобритания has launched a three-year $122.8 миллионов aid program to help reconstruct the economy. Half of the island is expected to remain uninhabitable for another decade.

Moroccan economic policies brought macroeconomic stability to the country in the early 1990s but have not spurred growth sufficient to reduce unemployment - nearing 20% in urban areas - despite the Moroccan Правление's ongoing efforts to diversify the economy. Мороккo's GDP growth rate slowed to 2.1% in 2007 as a result of a draught that severely reduced agricultural output и necessitated пшеница imports at rising world prices. Continued dependence on foreign энергия и Мороккo's inability to develop small и medium size enterprises also contributed to the slowdown. Moroccan authorities understand that reducing poverty и providing jobs are key to domestic security и development. In 2005, Мороккo launched the National Initiative for Human Development (INDH), a $2 миллиардов: social development plan to address poverty и unemployment и to improve the living conditions of the country's urban slums. Moroccan authorities are implementing reform efforts to open the economy to international investors. Despite structural adjustment programs supported by the IMF, the Мир Bank, и the Paris Club, the dirham is only fully convertible for current account transactions. In 2000, Мороккo entered an Association Agreement with the EU и, in 2006, entered a Free Trade Agreement (FTA) with the US. Long-term challenges include improving education и job prospects for Мороккo's youth, и closing the income gap between the rich и the poor, which the government hopes to achieve by increasing tourist arrivals и boosting competitiveness in textiles.

At independence in 1975, Мозамбик was один of the world's poorest countries. Socialist mismanagement и a brutal civil war from 1977-92 exacerbated the situation. In 1987, the government embarked on a series of macroeconomic reforms designed to stabilize the economy. These steps, combined with donor assistance и with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was reduced to single digits during the late 1990s, и although it returned to double digits in 2000-06, in 2007 inflation had slowed to 8%, while GDP growth reached 7.5%. Fiscal reforms, including the introduction of a value-added tax и reform of the customs service, have improved the government's revenue collection abilities. In spite of these gains, Мозамбик remains dependent upon foreign assistance for much of its annual budget, и the majority of the population remains below the poverty line. Subsistence agriculture continues to employ the vast majority of the country's work force. A substantial trade imbalance persists although the opening of the Mozal aluminum smelter, the country's largest foreign investment project to date, has increased export earnings. At the end of 2007, и после лет of negotiations, the government took over Португалия's majority share of the Cahora Bassa Hydroelectricity (HCB) company, a dam that was not transferred to Мозамбик at independence because of the ensuing civil war и unpaid debts. More power is needed for additional investment projects in titanium добывающая промышленность и processing и garment обрабатывающая промышленность that could further close the import/export gap. Мозамбик's once substantial foreign debt has been reduced through forgiveness и rescheduling under the IMF's Heavily Indebted Poor Countries (HIPC) и Enhanced HIPC initiatives, и is now at a manageable level. In July 2007 the Millennium Challenge Corporation (MCC) signed a Compact with Мозамбик; the Mozambican government moved rapidly to ratify the Compact и propose a plan for funding.

The economy is heavily dependent on the добывающая промышленность и processing of minerals for export. Mining accounts for 8% от ВВП, but provides more than 50% of foreign exchange earnings. Rich alluvial diamond deposits make Намибия a primary source for gem-quality алмазы. Намибия is the fourth-largest exporter of nonfuel minerals in Africa, the world's fifth-largest producer of уран, и the producer of large quantities of свинец, цинк, tin, серебро, и вольфрам. The добыча полезных ископаемых sector employs only about 3% of the population while about half of the population depends on subsistence agriculture for its livelihood. Намибия normally imports about 50% of its cereal requirements; in drought лет food shortages are a major problem in rural areas. A high per capita GDP, relative to the region, hides один of the world's most unequal income distributions. The Namibian economy is closely linked to Южно-Африканская Республика with the Namibian dollar pegged один-to-один to the South African rand. Increased payments from the Southern African Customs Union (SACU) put Намибия's budget into surplus in 2007 for the first time since independence, but SACU payments will decline после 2008 as part of a new revenue sharing formula. Increased рыба production и добыча полезных ископаемых of цинк, медь, уран, и серебро spurred growth in 2003-07, but growth in recent лет was undercut by poor рыба catches и high costs for metal inputs.

Revenues of this tiny island have traditionally come from exports of фосфат, now significantly depleted. An Australian company in 2005 entered into an agreement intended to exploit remaining supplies. Few other resources exist with most necessities being imported, mainly from Австралия, its former occupier и later major source of support. The rehabilitation of mined land и the replacement of income from фосфат are serious long-term problems. In anticipation of the exhaustion Науру's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition и provide for Науру's economic future. As a result of heavy spending from the trust funds, the government faces virtual bankruptcy. To cut costs the government has frozen wages и reduced overstaffed public service departments. In 2005, the deterioration in housing, hospitals, и other capital plant continued, и the cost to Австралия of keeping the government и economy afloat continued to climb. Few comprehensive statistics on the Науру economy exist, with estimates Науру's GDP varying widely.

Непал is among the poorest и least developed countries in the world with almost один-third of its population living below the poverty line. Agriculture is the mainstay of the economy, providing a livelihood for three-fourths of the population и accounting for 38% от ВВП. Industrial activity mainly involves the processing of agricultural produce including jute, sugarcane, tobacco, и grain. Security concerns relating to the Maoist conflict have led to a decrease in tourism, a key source of foreign exchange. Непал has considerable scope for exploiting its potential in hydropower и tourism, areas of recent foreign investment interest. Prospects for foreign trade или investment in other sectors will remain poor, however, because of the small size of the economy, its technological backwardness, its remoteness, its landlocked geographic location, its civil strife, и its susceptibility to natural disaster.

The Нидерланды has a prosperous и open economy, which depends heavily on foreign trade. The economy is noted for stable industrial relations, moderate unemployment и inflation, a sizable current account surplus, и an important role as a European транспорт hub. Industrial activity is predominantly in пищевая промышленность, химическая промышленность, нефть refining, и electrical machinery. A highly mechanized agricultural sector employs no more than 3% of the labor force but provides large surpluses for the food-processing industry и for exports. The Нидерланды, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. The country continues to be один of the leading European nations for attracting foreign direct investment и is один of the five largest investors in the US. The economy experienced a slowdown in 2005 but in 2006 recovered to the fastest pace in six лет on the back of increased exports и strong investment. The pace of job growth reached 10-year highs in 2007.

Tourism, нефть refining, и offshore finance are the mainstays of this small economy, which is closely tied to the outside world. Although GDP has declined или grown slightly in each of the past eight лет, the islands enjoy a high per capita income и a well-developed infrastructure compared with other countries in the region. Most of the нефть Нидерландские Антильские о-ва imports for its refineries come from Венесуэлa. Almost all consumer и капитал are imported, the US, Италия, и Мексика being the major suppliers. Poor soils и inadequate water supplies hamper the development of agriculture. Budgetary problems hamper reform of the health и pension systems of an aging population. The Нидерланды provides financial aid to support the economy.

Новая Каледония: заморская территория Франции has about 25% of the world's known никель resources. Only a small amount of the land is suitable for cultivation, и food accounts for about 20% of imports. In addition to никель, substantial financial support from Франция - equal to more than 15% от ВВП - и tourism are keys to the health of the economy. Substantial new investment in the никель industry, combined with the recovery of global никель prices, brightens the economic outlook for the next several лет.

Over the past 20 лет the government has transformed Новая Зеландия from an agrarian economy dependent on concessionary British market access to a more industrialized, free market economy that can compete globally. This dynamic growth has boosted real incomes - but left behind many at the bottom of the ladder - и broadened и deepened the technological capabilities of the industrial sector. Per capita income has risen for eight consecutive лет и reached $27,300 in 2007 in purchasing power parity terms. Consumer и government spending have driven growth in recent лет, и exports picked up in 2006 после struggling for several лет. Exports were equal to about 22% от ВВП in 2007, down from 33% от ВВП in 2001. Thus far the economy has been resilient, и the Labor Правление promises that expenditures on health, education, и pensions will increase proportionately to output. Inflationary pressures have built in recent лет и the central bank raised its key rate 13 times since January 2004 to finish 2007 at 8.25%. A large balance of payments deficit poses another challenge in managing the economy.

Никарагуа has widespread underemployment, один of the highest degrees of income inequality in the world, и the third lowest per capita income in the Western Hemisphere. While the country has progressed toward macroeconomic stability in the past few лет, annual GDP growth has been far too low to meet the country's needs, forcing the country to rely on international economic assistance to meet fiscal и debt financing obligations. In early 2004, Никарагуа secured some $4.5 миллиардов: in foreign debt reduction under the Heavily Indebted Poor Countries (HIPC) initiative, и in October 2007, the IMF approved a new poverty reduction и growth facility (PRGF) program that should create fiscal space for social spending и investment. The continuity of a relationship with the IMF reinforces donor confidence, despite private sector concerns surrounding ORTEGA, which has dampened investment. The US-Central America Free Trade Agreement (CAFTA) has been in effect since April 2006 и has expanded export opportunities for many agricultural и manufactured goods. Energy shortages fueled by high нефть prices, however, are a serious bottleneck to growth.

Нигер is один of the poorest countries in the world, ranking near last on the United Nations Development Fund index of human development. It is a landlocked, Sub-Saharan nation, whose economy centers on subsistence crops, livestock, и some of the world's largest уран deposits. Drought cycles, desertification, и a 2.9% population growth rate, have undercut the economy. Нигер shares a common currency, the CFA franc, и a common central bank, the Central Bank of West African States (BCEAO), with seven other members of the West African Monetary Union. In December 2000, Нигер qualified for enhanced debt relief under the Международные Monetary Fund program for Highly Indebted Poor Countries (HIPC) и concluded an agreement with the Fund on a Poverty Reduction и Growth Facility (PRGF). Debt relief provided under the enhanced HIPC initiative significantly reduces Нигер's annual debt service obligations, freeing funds for expenditures on basic health care, primary education, HIV/AIDS prevention, rural infrastructure, и other programs geared at poverty reduction. In December 2005, Нигер received 100% multilateral debt relief from the IMF, which translates into the forgiveness of approximately US $86 миллионов in debts to the IMF, excluding the remaining assistance under HIPC. Nearly half of the government's budget is derived from foreign donor resources. Future growth may be sustained by exploitation of нефть, золото, каменный уголь, и other mineral resources. Uranium prices have increased sharply in the last few лет. A drought и locust infestation in 2005 led to food shortages for as many as 2.5 миллионов Nigeriens.

Oil-rich Нигерия, long hobbled by political instability, corruption, inadequate infrastructure, и poor macroeconomic management, is undertaking some reforms under a new reform-minded administration. Нигерия's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive нефть sector, which provides 20% от ВВП, 95% of foreign exchange earnings, и about 80% of budgetary revenues. The largely subsistence agricultural sector has failed to keep up with rapid population growth - Нигерия is Africa's most populous country - и the country, once a large net exporter of food, now must import food. Following the signing of an IMF stand-by agreement in August 2000, Нигерия received a debt-restructuring deal from the Paris Club и a $1 миллиардов: credit from the IMF, both contingent on economic reforms. Нигерия pulled out of its IMF program in April 2002, после failing to meet spending и exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In the last year the government has begun showing the political will to implement the market-oriented reforms urged by the IMF, such as to modernize the banking system, to curb inflation by blocking excessive wage demands, и to resolve regional disputes over the distribution of earnings from the нефть industry. In 2003, the government began deregulating fuel prices, announced the privatization of the country's four нефть refineries, и instituted the National Economic Empowerment Development Strategy, a domestically designed и run program modeled on the IMF's Poverty Reduction и Growth Facility for fiscal и monetary management. In November 2005, Abuja won Paris Club approval for a debt-relief deal that eliminated $18 миллиардов: of debt in exchange for $12 миллиардов: in payments - a total package worth $30 миллиардов: Нигерии's total $37 миллиардов: external debt. The deal requires Нигерия to be subject to stringent IMF reviews. GDP rose strongly in 2007, based largely on increased нефть exports и high global crude prices. Newly-elected Президент YAR'ADUA has pledged to continue the economic reforms of his predecessor и the proposed budget for 2008 reflects the administrations emphasis on infrastructure improvements. Infrastructure is the main impediment to growth. The government is working toward developing stronger public-private partnerships for electricity и roads.

The economy suffers from the typical Pacific island problems of geographic isolation, few resources, и a small population. Правление expenditures regularly exceed revenues, и the shortfall is made up by critically needed grants from Новая Зеландия that are used to pay wages to public employees. Ниуэ has cut government expenditures by reducing the public service by almost half. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories to process passion fruit, lime нефть, honey, и coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue. The island in recent лет has suffered a serious loss of population because of emigration to Новая Зеландия. Efforts to increase GDP include the promotion of tourism и a financial services industry, although the Международные Banking Repeal Act of 2002 resulted in the termination of all offshore banking licenses. Economic aid from Новая Зеландия in 2002 was US$2.6 миллионов. Ниуэ suffered a devastating typhoon in January 2004, which decimated nascent economic programs. While in the process of rebuilding, Ниуэ has been dependent on foreign aid.

Tourism, the primary economic activity, has steadily increased over the лет и has brought a level of prosperity unusual among inhabitants of the Pacific islands. The agricultural sector has become self-sufficient in the production of говядина, птица, и eggs.

The economy benefits substantially from financial assistance from the US. The rate of funding has declined as locally generated government revenues have grown. The key tourist industry employs about 50% of the work force и accounts for roughly один-fourth от ВВП. Japanese tourists predominate. Annual tourist entries have exceeded один-half миллионов in recent лет, but financial difficulties in Япония have caused a temporary slowdown. The agricultural sector is made up of cattle ranches и small farms producing coconuts, breadfruit, tomatoes, и melons. Garment production is by far the most important industry with the employment of 17,500 mostly Chinese workers и sizable shipments to the US under duty и quota exemptions.

The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity и government intervention. The government controls key areas, such as the vital нефть sector, through large-scale state enterprises. The country is richly endowed with natural resources - нефть, hydropower, рыба, forests, и minerals - и is highly dependent on its нефть production и international нефть prices, with нефть и газ accounting for один-third of exports. Only Саудовская Аравия и Россия export more нефть than Норвегия. Норвегия opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. The government has moved ahead with privatization. Although Norwegian нефть production peaked in 2000, природный газ production is still rising. Norwegians realize that once their газ production peaks they will eventually face declining нефть и газ revenues; accordingly, Норвегия has been saving its нефть-и-газ-boosted budget surpluses in a Правление Petroleum Fund, which is invested abroad и now is valued at more than $250 миллиардов:. After lackluster growth of less than 1% in 2002-03, GDP growth picked up to 3-5% in 2004-07, partly due to higher нефть prices. Норвегия's economy remains buoyant. Domestic economic activity is, и will continue to be, the main driver of growth, supported by high consumer confidence и strong investment spending in the offshore нефть и газ sector. Норвегия's record high budget surplus и upswing in the labor market in 2007 highlight the strength of its economic position going into 2008.

Оман is a middle-income economy that is heavily dependent on dwindling нефть resources, but sustained high нефть prices in recent лет have helped build Оман's budget и trade surpluses и foreign reserves. Оман joined the Мир Trade Organization in November 2000 и continues to liberalize its markets. It ratified a free trade agreement with the US in September 2006, и, through the Gulf Cooperation Council, seeks similar agreements with the EU, Китай и Япония. As a result of its dwindling нефть resources, Оман is actively pursuing a development plan that focuses on diversification, industrialization, и privatization, with the objective of reducing the нефть sector's contribution to GDP to 9 percent by 2020. Muscat is attempting to "Omanize" the labor force by replacing foreign expatriate workers with local workers. Оман actively seeks private foreign investors, especially in the industrial, information technology, tourism, и higher education fields. Industrial development plans focus on газ resources, metal обрабатывающая промышленность, petrochemicals, и international transshipment ports.

The Тихий океан is a major contributor to the world economy и particularly to those nations its waters directly touch. It provides low-cost sea транспорт between East и West, extensive рыболовство grounds, offshore нефть и газ fields, minerals, и sand и gravel for the construction industry. In 1996, over 60% of the world's рыба catch came from the Тихий океан. Exploitation of offshore нефть и газ reserves is playing an ever-increasing role in the энергия supplies of the US, Австралия, NZ, Китай, и Перу. The high cost of recovering offshore нефть и газ, combined with the wide swings in world prices for нефть since 1985, has led to fluctuations in new drillings.

Пакистан, an impoverished и underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, и a costly, ongoing confrontation with neighboring Индия. However, since 2001, IMF-approved reforms - most notably, privatization of the banking sector - bolstered by generous foreign assistance и renewed access to global markets, have generated macroeconomic recovery. Пакистан has experienced GDP growth in the 6-8% range in 2004-07, spurred by gains in the industrial и service sectors. Poverty levels have decreased by 10% since 2001, и Islamabad has steadily raised development spending in recent лет, including a 52% real increase in the budget allocation for development in FY07. In 2007 the fiscal deficit - a result of chronically low tax collection и increased spending - exceeded Islamabad's target of 4% от ВВП. Inflation remains the top concern among the public, jumping from 7.7% in 2007 to more than 11% during the first few months of 2008, primarily because of rising world commodity prices. The Pakistani rupee has depreciated since the proclamation of emergency rule in November 2007.

The economy consists primarily of tourism, subsistence agriculture, и рыболовство. The government is the major employer of the work force relying heavily on financial assistance from the US. The Compact of Free Association with the US, entered into после the end of the UN trusteeship on 1 October 1994, provided Палау with up to $700 миллионов in US aid for the following 15 лет in return for furnishing military facilities. Business и tourist arrivals numbered 63,000 in 2003. The population enjoys a per capita income roughly 50% higher than that of the Филиппины и much of Micronesia. Long-run prospects for the key tourist sector have been greatly bolstered by the expansion of air travel in the Pacific, the rising prosperity of leading East азиаты countries, и the willingness of foreigners to finance infrastructure development.

Панама's dollarized economy rests primarily on a well-developed services sector that accounts for two-thirds от ВВП. Services include operating the Панама Canal, banking, the Colon Free Zone, insurance, container ports, flagship registry, и tourism. Economic growth will be bolstered by the Панама Canal expansion project that began in 2007 и should be completed by 2014 at a cost of $5.3 миллиардов: (about 30% of current GDP). The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are now too large to transverse the transoceanic crossway и should help to reduce the high unemployment rate. The government has implemented tax reforms, as well as social security reforms, и backs regional trade agreements и development of tourism. Not a CAFTA signatory, Панама in December 2006 independently negotiated a free trade agreement with the US, which, when implemented, will help promote the country's economic growth.

Папуа — Новая Гвинея is richly endowed with natural resources, but exploitation has been hampered by rugged terrain и the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for 85% of the population. Mineral deposits, including медь, золото, и нефть, account for nearly two-thirds of export earnings. The government of Премьер Министр SOMARE has expended much of its энергия remaining in power. He was the first prime minister ever to serve a full five-year term. The government also brought stability to the national budget, largely through expenditure control; however, it relaxed spending constraints in 2006 и 2007 as elections approached. Numerous challenges still face the government including regaining investor confidence, restoring integrity to state institutions, promoting economic efficiency by privatizing moribund state institutions, и balancing relations with Австралия, its former colonial ruler. Other socio-cultural challenges could upend the economy including a worsening HIV/AIDS epidemic и chronic law и order и land tenure issues. Австралия will supply more than $300 миллионов in aid in FY07/08, which accounts for nearly 20% of the national budget.

Landlocked Парагвай has a market economy marked by a large informal sector. This sector features both reexport of imported товары народного потребления to neighboring countries, as well as the activities of thousands of microenterprises и urban street vendors. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. On a per capita basis, real income has stagnated at 1980 levels. Most observers attribute Парагвай's poor economic performance to political uncertainty, corruption, limited progress on structural reform, и deficient infrastructure. The economy rebounded between 2003 и 2007, posting modest growth each year, as growing world demand for commodities combined with high prices и favorable weather to support Парагвай's commodity-based export expansion.

The Philippine economy grew at its fastest pace in three decades with real GDP growth exceeding 7% in 2007. Higher government spending contributed to the growth, but a resilient service sector и large remittances from the millions of Filipinos who work abroad have played an increasingly important role. Economic growth has averaged 5% since Президент MACAPAGAL-ARROYO took office in 2001. Nevertheless, the Филиппины will need still higher, sustained growth to make progress in alleviating poverty, given its high population growth и unequal distribution of income. MACAPAGAL-ARROYO averted a fiscal crisis by pushing for new revenue measures и, until recently, tightening expenditures. Declining fiscal deficits, tapering debt и debt service ratios, as well as recent efforts to increase spending on infrastructure и social services have heightened optimism over Philippine economic prospects. Although the general macroeconomic outlook has improved significantly, the Филиппины continues to face important challenges и must maintain the reform momentum in order to catch up with regional competitors, improve employment opportunities, и alleviate poverty. Longer-term fiscal stability will require more sustainable revenue sources, rather than non-recurring revenues from privatization.

The inhabitants of this tiny isolated economy exist on рыболовство, subsistence фермерство, handicrafts, и postage stamps. The fertile soil of the valleys produces a wide variety of фрукты и овощи, including citrus, sugarcane, watermelons, bananas, yams, и beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors и the sale of handicrafts to passing ships. In October 2004, more than один-quarter of Pitcairn's small labor force was arrested, putting the economy in a bind, since their services were required as lighter crew to load или unload passing ships.

Польша has pursued a policy of economic liberalization since 1990 и today stands out as a success story among transition economies. In 2007, GDP grew an estimated 6.5%, based on rising private consumption, a jump in corporate investment, и EU funds inflows. GDP per capita is still much below the EU average, but is similar to that of the three Baltic states. Since 2004, EU membership и access to EU structural funds have provided a major boost to the economy. Unemployment is falling rapidly, though at roughly 12.8% in 2007, it remains well above the EU average. Tightening labor markets, и rising global энергия и food prices, pose a risk to consumer price stability. In December 2007 inflation reached 4.1% on a year-over-year basis, или higher than the upper limit of the National Bank Польши's target range. Польша's economic performance could improve further if the country addresses some of the remaining deficiencies in its business environment. An inefficient commercial court system, a rigid labor code, bureaucratic red tape, и persistent low-level corruption keep the private sector from performing up to its full potential. Rising demands to fund health care, education, и the state pension system present a challenge to the Polish government's effort to hold the consolidated public sector budget deficit under 3.0% от ВВП, a target which was achieved in 2007. The PO/PSL coalition government which came to power in November 2007 plans to further reduce the budget deficit with the aim of eventually adopting the euro. The new government has also announced its intention to enact business-friendly reforms, reduce public sector spending growth, lower taxes, и accelerate privatization. However, the government does not have the necessary two-thirds majority needed to override a presidential veto, и thus may have to water down initiatives in order to garner enough support to pass its pro-business policies.

Португалия has become a diversified и increasingly service-based economy since joining the European Community in 1986. Over the past two decades, successive governments have privatized many state-controlled firms и liberalized key areas of the economy, including the financial и телекоммуникации sectors. The country qualified for the European Monetary Union (EMU) in 1998 и began circulating the euro on 1 January 2002 along with 11 other EU member economies. Economic growth had been above the EU average for much of the 1990s, but fell back in 2001-07. GDP per capita stands at roughly two-thirds of the EU-27 average. A poor educational system, in particular, has been an obstacle to greater productivity и growth. Португалия has been increasingly overshadowed by lower-cost producers in Центральная Европа и Азия as a target for foreign direct investment. The budget deficit surged to an all-time high of 6% от ВВП in 2005, but the government reduced the deficit to 2.6% in 2007 - a year ahead Португалии's targeted schedule. Nonetheless, the government faces tough choices in its attempts to boost Португалия's economic competitiveness while keeping the budget deficit within the eurozone's 3%-of-GDP ceiling.

Пуэрто-Рико has один of the most dynamic economies in the Caribbean region. A diverse industrial sector has far surpassed agriculture as the primary locus of economic activity и income. Encouraged by duty-free access to the US и by tax incentives, US firms have invested heavily in Пуэрто-Рико since the 1950s. US minimum wage laws apply. Sugar production has lost out to dairy production и other livestock products as the main source of income in the agricultural sector. Tourism has traditionally been an important source of income, with estimated arrivals of nearly 5 миллионов tourists in 2004. Growth fell off in 2001-03, largely due to the slowdown in the US economy, recovered in 2004-05, but declined again in 2006-07.

Катар is in the midst of an economic boom supported by its expanding production of природный газ и нефть. Economic policy is focused on development Катара's nonassociated природный газ reserves и increasing private и foreign investment in non-энергия sectors. Oil и газ account for more than 60% от ВВП, roughly 85% of export earnings, и 70% of government revenues. Oil и газ have made Катар the highest per-capita income country и один of the world's fastest growing. Sustained high нефть prices и increased природный газ exports in recent лет have helped build Катар's budget и trade surpluses и foreign reserves. Proved нефть reserves of more than 15 миллиардов: barrels should ensure continued output at current levels for 22 лет. Катар's proved reserves of природный газ are roughly 25 триллионов кубические метры, about 15% of the world total и third largest in the world. Катар has permitted substantial foreign investment in the development of its газ fields during the last decade и became the world's top liquefied природный газ (LNG) exporter in 2007.

Румыния, which joined the Европейское сообщество on 1 January 2007, began the transition from Communism in 1989 with a largely obsolete industrial base и a pattern of output unsuited to the country's needs. The country emerged in 2000 from a punishing three-year recession thanks to strong demand in EU export markets. Domestic consumption и investment have fueled strong GDP growth in recent лет, but have led to large current account imbalances. Румыния's macroeconomic gains have only recently started to spur creation of a middle class и address Румыния's widespread poverty. Corruption и red tape continue to handicap its business environment. Inflation rose in 2007 for the first time in eight лет, driven in part by the depreciation of the currency, rising энергия costs, a nation-wide drought affecting food prices, и a relaxation of fiscal discipline. Румыния hopes to adopt the euro by 2014.

Россия ended 2007 with its ninth straight year of growth, averaging 7% annually since the financial crisis of 1998. Although high нефть prices и a relatively cheap ruble initially drove this growth, since 2003 consumer demand и, more recently, investment have played a significant role. Over the last six лет, fixed capital investments have averaged real gains greater than 10% per year и personal incomes have achieved real gains more than 12% per year. During this time, poverty has declined steadily и the middle class has continued to expand. Россия has also improved its international financial position since the 1998 financial crisis. The federal budget has run surpluses since 2001 и ended 2007 with a surplus of about 3% от ВВП. Over the past several лет, Россия has used its stabilization fund based on нефть taxes to prepay all Soviet-era sovereign debt to Paris Club creditors и the IMF. Foreign debt is approximately один-third от ВВП. The state component of foreign debt has declined, but commercial debt to foreigners has risen strongly. Oil export earnings have allowed Россия to increase its foreign reserves from $12 миллиардов: in 1999 to some $470 миллиардов: at yearend 2007, the third largest reserves in the world. During Президент PUTIN's first administration, a number of important reforms were implemented in the areas of tax, banking, labor, и land codes. These achievements have raised business и investor confidence in Россия's economic prospects, with foreign direct investment rising from $14.6 миллиардов: in 2005 to approximately $45 миллиардов: in 2007. In 2007, Россия's GDP grew 8.1%, led by non-tradable services и goods for the domestic market, as opposed to нефть или mineral добывающая промышленность и exports. Rising inflation returned in the second half of 2007, driven largely by unsterilized capital inflows и by rising food costs, и approached 12% by year-end. In 2006, Россия signed a bilateral market access agreement with the US as a prelude to possible WTO entry, и its companies are involved in global merger и acquisition activity in the нефть и газ, metals, и telecom sectors. Despite Россия's recent success, serious problems persist. Oil, природный газ, metals, и леса account for more than 80% of exports и 30% of government revenues, leaving the country vulnerable to swings in world commodity prices. Россия's обрабатывающая промышленность base is dilapidated и must be replaced или modernized if the country is to achieve broad-based economic growth. The banking system, while increasing consumer lending и growing at a high rate, is still small relative to the banking sectors России's emerging market peers. Political uncertainties associated with this year's power transition, corruption, и lack of trust in institutions continue to dampen domestic и foreign investor sentiment. PUTIN has granted more influence to forces within his government that desire to reassert state control over the economy. Россия has made little progress in building the rule of law, the bedrock of a modern market economy. The government has promised additional legislative amendments to make its intellectual property protection WTO-consistent, but enforcement remains problematic.

The economy Сен-Бартельми is based upon high-end tourism и duty-free luxury commerce, serving visitors primarily from Северная Америка. The luxury hotels и villas host 70,000 visitors each year with another 130,000 arriving by boat. The relative isolation и high cost of living inhibits mass tourism. The construction и public sectors also enjoy significant investment in support of tourism. With limited fresh water resources, all food must be imported, as must all энергия resources и most manufactured goods. Employment is strong и attracts labor from Бразилия и Португалия.

The economy depends largely on financial assistance from the Великобритания, which will amount to about $27 миллионов in FY06/07 или almost 70% of annual budgetary revenues. The local population earns income from рыболовство, raising livestock, и sales of handicrafts. Because there are few jobs, 25% of the work force has left to seek employment on Ascension Island, on the Falklands, и in the Великобритания.

Sugar was the traditional mainstay of the Saint Kitts economy until the 1970s. Following the 2005 harvest, the government closed the sugar industry после decades of losses of 3-4% от ВВП annually. To compensate for employment losses, the government has embarked on a program to diversify the agricultural sector и to stimulate other sectors of the economy. Activities such as tourism, export-oriented обрабатывающая промышленность, и offshore banking have assumed larger roles in the economy и have contributed to the recent robust growth. Tourism revenues are now the chief source of the islands' foreign exchange; about 341,800 tourists visited Nevis in 2005. The current government is constrained by a high debt burden, public debt reached 190% от ВВП by the end of 2005, largely attributable to public enterprise losses.

The island nation has been able to attract foreign business и investment, especially in its offshore banking и tourism industries, with a surge in foreign direct investment in 2006, attributed to the construction of several tourism projects. Tourism is the main source of foreign exchange, with almost 900,000 arrivals in 2007. The обрабатывающая промышленность sector is the most diverse in the Eastern Caribbean area, и the government is trying to revitalize the banana industry. Сент-Люсия is vulnerable to a variety of external shocks including declines in Европейское сообщество banana preferences, volatile tourism receipts, natural disasters, и dependence on foreign нефть. High debt servicing obligations constrain the KING administration's ability to respond to adverse external shocks. Economic fundamentals remain solid, even though unemployment needs to be reduced.

The economy of Saint Martin centers around tourism with 85% of the labor force engaged in this sector. Over один миллионов visitors come to the island each year with most arriving through the Princess Juliana Международные Airport in Sint Maarten. No significant agriculture и limited local рыболовство means that almost all food must be imported. Energy resources и manufactured goods are also imported, primarily from Мексика и the США. Saint Martin is reported to have the highest per capita income in the Caribbean.

The inhabitants have traditionally earned their livelihood by рыболовство и by servicing рыболовство fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Канада over рыболовство quotas и a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 кв. км. to settle a longstanding territorial dispute with Канада, although it represents only 25% of what Франция had sought. Франция heavily subsidizes the islands to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects. Fish фермерство, crab рыболовство, и agriculture are being developed to diversify the local economy. Recent test drilling for нефть may pave the way for development of the энергия sector.

Economic growth slowed slightly in 2007 после reaching a 10 year high of nearly 7% in 2006, but is expected to remain robust, hinging upon seasonal variations in the agricultural и tourism sectors и a recent increase in construction activity. This lower-middle-income country is vulnerable to natural disasters - tropical storms wiped out substantial portions of crops in 1994, 1995, и 2002. In 2007, the islands had more than 200,000 tourist arrivals, mostly to the Grenadines. Saint Vincent is home to a small offshore banking sector и has moved to adopt international regulatory standards. The government's ability to invest in social programs и respond to external shocks is constrained by its high debt burden - 25 percent of current revenues are directed towards debt servicing.

The economy Самоа has traditionally been dependent on development aid, family remittances from overseas, agriculture, и рыболовство. The country is vulnerable to devastating storms. Agriculture employs two-thirds of the labor force и furnishes 90% of exports, featuring coconut cream, coconut нефть, и copra. The рыба catch declined during the El Nino of 2002-03 but returned to normal by mid-2005. The обрабатывающая промышленность sector mainly processes продукты сельского хозяйства. One factory in the Foreign Trade Zone employs 3,000 people to make automobile electrical harnesses for an assembly plant in Австралия. Tourism is an expanding sector, accounting for 25% от ВВП; 116,000 tourists visited the islands in 2006. The Samoan Правление has called for deregulation of the financial sector, encouragement of investment, и continued fiscal discipline, while at the same time protecting the environment. Observers point to the flexibility of the labor market as a basic strength for future economic advances. Foreign reserves are in a relatively healthy state, the external debt is stable, и inflation is low.

The tourist sector contributes over 50% от ВВП. In 2006 more than 2.1 миллионов tourists visited Сан-Маринo. The key industries are banking, одежда и apparel, производство электроники, и ceramics. Main продукты сельского хозяйства are wine и cheeses. The per capita level of output и standard of living are comparable to those of the most prosperous regions Италии, which supplies much of its food.

This small, poor island economy has become increasingly dependent on cocoa since independence in 1975. Cocoa production has substantially declined in recent лет because of drought и mismanagement. Sao Tome has to import all fuels, most manufactured goods, товары народного потребления, и a substantial amount of food. Over the лет, it has had difficulty servicing its external debt и has relied heavily on concessional aid и debt rescheduling. Sao Tome benefited from $200 миллионов in debt relief in December 2000 under the Highly Indebted Poor Countries (HIPC) program, which helped bring down the country's $300 миллионов debt burden. In August 2005, Sao Tome signed on to a new 3-year IMF Poverty Reduction и Growth Facility (PRGF) program worth $4.3 миллионов. Considerable potential exists for development of a tourist industry, и the government has taken steps to expand facilities in recent лет. The government also has attempted to reduce price controls и subsidies. Sao Tome is optimistic about the development of нефть resources in its territorial waters in the нефть-rich Gulf Гвинеи, which are being jointly developed in a 60-40 split with Нигерия. The first production licenses were sold in 2004, though a dispute over licensing with Нигерия delayed Sao Tome's receipt of more than $20 миллионов in signing bonuses for almost a year. Real GDP growth exceeded 6% in 2007, as a result of increases in public expenditures и нефть-related capital investment.

Саудовская Аравия has an нефть-based economy with strong government controls over major economic activities. It possesses more than 20% of the world's proven нефть reserves, ranks as the largest exporter of нефть, и plays a leading role in OPEC. The нефть sector accounts for roughly 75% of budget revenues, 45% от ВВП, и 90% of export earnings. About 40% от ВВП comes from the private sector. Roughly 5.5 миллионов foreign workers play an important role in the Saudi economy, particularly in the нефть и service sectors. High нефть prices have boosted growth, government revenues, и Saudi ownership of foreign assets, while enabling Riyadh to pay down domestic debt. The government is encouraging private sector growth - especially in power generation, телекоммуникации, природный газ exploration, и petrochemicals - to lessen the kingdom's dependence on нефть exports и to increase employment opportunities for the swelling Saudi population, nearly 40% of which are youths до 15 лет old. Unemployment is high, и the large youth population generally lacks the education и технический персонал skills the private sector needs. Riyadh has substantially boosted spending on job training и education, infrastructure development, и government salaries. As part of its effort to attract foreign investment и diversify the economy, Саудовская Аравия acceded to the WTO in December 2005 после many лет of negotiations. The government has announced plans to establish six "economic cities" in different regions of the country to promote development и diversification.

In January 1994, Сенегал undertook a bold и ambitious economic reform program with the support of the international donor community. This reform began with a 50% devaluation Сенегала's currency, the CFA franc, which was linked at a fixed rate to the French franc. Правление price controls и subsidies have been steadily dismantled. After seeing its economy contract by 2.1% in 1993, Сенегал made an important turnaround, thanks to the reform program, with real growth in GDP averaging over 5% annually during 1995-2007. Annual inflation had been pushed down to the low single digits. As a member of the West African Economic и Monetary Union (WAEMU), Сенегал is working toward greater regional integration with a unified external tariff и a more stable monetary policy. High unemployment, however, continues to prompt illegal migrants to flee Сенегал in search of better job opportunities in Europe. Сенегал was also beset by an энергия crisis that caused widespread blackouts in 2006 и 2007. The phosphate industry has struggled for two лет to secure capital, и reduced output has directly impacted GDP. In 2007, Сенегал signed agreements for major new добыча полезных ископаемых concessions for железная руда, zircon, и золото with foreign companies. Firms from Dubai have agreed to manage и modernize Dakar's maritime port, и create a new special economic zone. Сенегал still relies heavily upon outside donor assistance. Under the IMF's Highly Indebted Poor Countries (HIPC) debt relief program, Сенегал has benefited from eradication of two-thirds of its bilateral, multilateral, и private-sector debt. In 2007, Сенегал и the IMF agreed to a new, non-disbursing, Policy Support Initiative program.

MILOSEVIC-era mismanagement of the economy, an extended period of economic sanctions, и the damage to Yugoslavia's infrastructure и industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav Президент MILOSEVIC in September 2000, the Democratic Opposition Сербии (DOS) coalition government implemented stabilization measures и embarked on a market reform program. After renewing its membership in the IMF in December 2000, a down-sized Yugoslavia continued to reintegrate into the international community by rejoining the Мир Bank (IBRD) и the European Bank for Reconstruction и Development (EBRD). A Мир Bank-European Commission sponsored Donors' Conference held in June 2001 raised $1.3 миллиардов: for economic restructuring. In November 2001, the Paris Club agreed to reschedule the country's $4.5 миллиардов: public debt и wrote off 66% of the debt. In July 2004, the London Club of private creditors forgave $1.7 миллиардов: of debt just over half the total owed. Belgrade has made only minimal progress in restructuring и privatizing its holdings in major sectors of the economy, including энергия и телекоммуникации. It has made halting progress towards EU membership и is currently pursuing a Stabilization и Association Agreement with Brussels. Сербия is also pursuing membership in the Мир Trade Organization. Unemployment remains an ongoing political и economic problem.

Since independence in 1976, per capita output in this Индийский океан archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle income group of countries. Growth has been led by the tourist sector, which employs about 30% of the labor force и provides more than 70% of hard currency earnings, и by tuna рыболовство. In recent лет, the government has encouraged foreign investment to upgrade hotels и другие отрасли. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of фермерство, рыболовство, и small-scale обрабатывающая промышленность. Sharp drops illustrated the vulnerability of the tourist sector in 1991-92 due largely to the Gulf War и once again following the 11 September 2001 terrorist attacks on the US. Economic growth slowed in 1998-2002 и fell in 2003-04, due to sluggish tourist и tuna sectors, but resumed in 2005-07. Real GDP grew by 5.8% in 2007, driven by tourism и a boom in tourism-related construction. The Сейшельские Острова rupee was allowed to depreciate in 2006 после being overvalued for лет и fell by 10% in the first 9 months of 2007.

Сьерра-Леоне is an extremely poor nation with tremendous inequality in income distribution. While it possesses substantial mineral, agricultural, и fishery resources, its physical и social infrastructure is not well developed, и serious social disorders continue to hamper economic development. Nearly half of the working-age population engages in subsistence agriculture. Manufacturing consists mainly of the processing of raw materials и of light обрабатывающая промышленность for the domestic market. Alluvial diamond добыча полезных ископаемых remains the major source of hard currency earnings accounting for nearly half Сьерра-Леоне 's exports. The fate of the economy depends upon the maintenance of domestic peace и the continued receipt of substantial aid from abroad, which is essential to offset the severe trade imbalance и supplement government revenues. The IMF has completed a Poverty Reduction и Growth Facility program that helped stabilize economic growth и reduce inflation. A recent increase in political stability has led to a revival of economic activity such as the rehabilitation of боксит и rutile добыча полезных ископаемых.

Сингапур has a highly developed и successful free-market economy. It enjoys a remarkably open и corruption-free environment, stable prices, и a per capita GDP equal to that of the four largest West European countries. The economy depends heavily on exports, particularly in consumer производство электроники и information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, и by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism и consumer spending. Fiscal stimulus, low interest rates, a surge in exports, и internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish a new growth path that will be less vulnerable to the global demand cycle for information technology products - it has attracted major investments in pharmaceuticals и medical technology production - и will continue efforts to establish Сингапур as Southeast Азия's financial и high-tech hub.

Словакия has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization и structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, и the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization и a 19% flat tax. Foreign investment in the automotive sector has been strong. Словакия's economic growth exceeded expectations in 2001-07 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 8.6% in 2007 but remains the economy's Achilles heel. Словакия joined the EU on 1 May 2004 и will be the second of the new EU member states to adopt the euro in 2009 if it continues to meet euro adoption criteria in 2008. Despite its 2006 pre-election promises to loosen fiscal policy и reverse the previous DZURINDA government's pro-market reforms, FICO's cabinet has thus far been careful to keep a lid on spending in order to meet euro adoption criteria. The FICO government is pursuing a state-interventionist economic policy, however, и has pushed to regulate энергия и food prices.

Словения, which on 1 January 2007 became the first 2004 Европейское сообщество entrant to adopt the euro, is a model of economic success и stability for the region. With the highest per capita GDP in Центральная Европа, Словения has excellent infrastructure, a well-educated work force, и a strategic location between the Balkans и Western Europe. Privatization has lagged since 2002, и the economy has один of highest levels of state control in the EU. Structural reforms to improve the business environment have allowed for somewhat greater foreign participation in Словения's economy и have helped to lower unemployment. In March 2004, Словения became the first transition country to graduate from borrower status to donor partner at the Мир Bank. In December 2007, Словения was invited to begin the accession process for joining the OECD. Despite its economic success, foreign direct investment (FDI) in Словения has lagged behind the region average, и taxes remain relatively high. Furthermore, the labor market is often seen as inflexible, и legacy industries are losing sales to more competitive firms in Китай, Индия, и elsewhere.

The bulk of the population depends on agriculture, рыболовство, и лесоводство for at least part of its livelihood. Most manufactured goods и нефтяные продукты must be imported. The islands are rich in undeveloped mineral resources such as свинец, цинк, никель, и золото. Prior to the arrival of the Regional Assistance Mission to the Соломоновы Острова (RAMSI), severe ethnic violence, the closing of key businesses, и an empty government treasury culminated in economic collapse. RAMSI's efforts to restore law и order и economic stability have led to modest growth as the economy rebuilds.

Despite the lack of принята national governance, Сомали has maintained a healthy informal economy, largely based on livestock, remittance/money transfer companies, и телекоммуникации. Agriculture is the most important sector, with livestock normally accounting for about 40% от ВВП и about 65% of export earnings. Nomads и semi-pastoralists, who are dependent upon livestock for their livelihood, make up a large portion of the population. Livestock, hides, рыба, charcoal, и bananas are Сомали's principal exports, while sugar, sorghum, кукуруза, qat, и machined goods are the principal imports. Сомали's small industrial sector, based on the processing of продукты сельского хозяйства, has largely been looted и sold as scrap metal. Сомали's service sector also has grown. Telecommunication firms provide wireless services in most major cities и offer the lowest international call rates on the continent. In the absence of a formal banking sector, money exchange services have sprouted throughout the country, handling between $500 миллионов и $1 миллиардов: in remittances annually. Mogadishu's main market offers a variety of goods from food to the newest electronic gadgets. Hotels continue to operate и are supported with private-security militias. Сомали's arrears to the IMF continued to grow in 2006-07. Statistics on Сомали's GDP, growth, per capita income, и inflation should be viewed skeptically. In late December 2004, a major tsunami caused an estimated 150 deaths и resulted in destruction of property in coastal areas.

Южно-Африканская Республика is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, энергия, и transport sectors; a stock exchange that is 17th largest in the world; и modern infrastructure supporting an efficient distribution of goods to major urban centers throughout the region. Growth has been robust since 2004, as Южно-Африканская Республика has reaped the benefits of macroeconomic stability и a global commodities boom. However, unemployment remains high и outdated infrastructure has constrained growth. At the end of 2007, Южно-Африканская Республика began to experience an electricity crisis because state power supplier Eskom suffered supply problems with aged plants, necessitating "load-shedding" cuts to residents и businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, и a shortage of public транспорт. South African economic policy is fiscally conservative but pragmatic, focusing on controlling inflation, maintaining a budget surplus, и using state-owned enterprises to deliver basic services to low-income areas as a means to increase job growth и household income.

Some рыболовство takes place in adjacent waters. There is a potential source of income from harvesting finfish и krill. The islands receive income from postage stamps produced in the Великобритания, sale of рыболовство licenses, и harbor и landing fees from tourist vessels. Tourism from specialized cruise ships is increasing rapidly.

The испанский economy boomed from 1986 to 1990 averaging 5% annual growth. After a European-wide recession in the early 1990s, the испанский economy resumed moderate growth starting in 1994. Испания's mixed capitalist economy supports a GDP that on a per capita basis is equal to that of the leading West European economies. The center-right government of former Президент Jose Maria AZNAR successfully worked to gain admission to the first group of countries launching the European single currency (the euro) on 1 January 1999. The AZNAR administration continued to advocate liberalization, privatization, и deregulation of the economy и introduced some tax reforms to that end. Unemployment fell steadily under the AZNAR administration but remains high at 7.6%. Growth averaging more than 3% annually during 2003-07 was satisfactory given the background of a faltering European economy. The Socialist president, RODRIGUEZ ZAPATERO, has made mixed progress in carrying out key structural reforms, which need to be accelerated и deepened to sustain Испания's economic growth. Despite the economy's relative solid footing significant downside risks remain including Испания's continued loss of competitiveness, the potential for a housing market collapse, the country's changing demographic profile, и a decline in EU structural funds.

Economic activity is limited to commercial рыболовство. The proximity to nearby нефть- и газ-producing sedimentary basins suggests the potential for нефть и газ deposits, but the region is largely unexplored. There are no reliable estimates of potential reserves. Commercial exploitation has yet to be developed.

In 1977, Colombo abandoned statist economic policies и its import substitution trade policy for more market-oriented policies, export-oriented trade, и encouragement of foreign investment. Recent changes in government, however, have brought some policy reversals. Currently, the ruling Шри-Ланка Freedom Party has a more statist economic approach, which seeks to reduce poverty by steering investment to disadvantaged areas, developing small и medium enterprises, promoting agriculture, и expanding the already enormous civil service. The government has halted privatizations. Although suffering a brutal civil war that began in 1983, Шри-Ланка saw GDP growth average 4.5% in the last 10 лет with the exception of a recession in 2001. In late December 2004, a major tsunami took about 31,000 lives, left more than 6,300 missing и 443,000 displaced, и destroyed an estimated $1.5 миллиардов: worth of property. Правление spending и reconstruction drove growth to more than 7% in 2006 but reduced agriculture output probably slowed growth to about 6 percent in 2007. Правление spending и loose monetary policy drove inflation to nearly 16% in 2007. Шри-Ланка's most dynamic sectors now are пищевая промышленность, textiles и apparel, food и beverages, port construction, телекоммуникации, и insurance и banking. In 2006, plantation crops made up only about 15% of exports (compared with more than 90% in 1970), while textiles и garments accounted for more than 60%. About 800,000 Sri Lankans work abroad, 90% of them in the Middle East. They send home more than $1 миллиардов: a year. The struggle by the Tamil Tigers of the север и восток for an independent homeland continues to cast a shadow over the economy.

Судан's economy is booming on the back of increases in нефть production, high нефть prices, и large inflows of foreign direct investment. GDP growth registered more than 10% per year in 2006 и 2007. From 1997 to date, Судан has been working with the IMF to implement macroeconomic reforms, including a managed float of the exchange rate. Судан began exporting сырая нефть in the last quarter of 1999. Agricultural production remains important, because it employs 80% of the work force и contributes a third от ВВП. The Darfur conflict, the aftermath of two decades of civil war in the юг, the lack of basic infrastructure in large areas, и a reliance by much of the population on subsistence agriculture ensure much of the population will remain at или below the poverty line for лет despite rapid rises in average per capita income. In January 2007, the government introduced a new currency, the Sudanese Pound, at an initial exchange rate of $1.00 equals 2 Sudanese Pounds.

The economy is dominated by the добыча полезных ископаемых industry, with exports of alumina, золото, и нефть accounting for about 85% of exports и 25% of government revenues, making the economy highly vulnerable to mineral price volatility. The short-term economic outlook depends on the government's ability to control inflation и on the development of projects in the боксит и золото добыча полезных ископаемых sectors. Суринам has received aid for these projects from Нидерланды, Бельгия, и the European Development Fund. Суринам's economic prospects for the medium term will depend on continued commitment to responsible monetary и fiscal policies и to the introduction of structural reforms to liberalize markets и promote competition. In 2000, the government of Ronald VENETIAAN, returned to office и inherited an economy with inflation of over 100% и a growing fiscal deficit. He quickly implemented an austerity program, raised taxes, attempted to control spending, и tamed inflation. These economic policies are likely to remain in effect during VENETIAAN's third term. Prospects for local onshore нефть production are good as a drilling program is underway. Offshore нефть drilling was given a boost in 2004 when the State Oil Company (Staatsolie) signed exploration agreements with Repsol, Maersk, и Occidental. Bidding on these new offshore blocks was completed in July 2006.

Coal добыча полезных ископаемых is the major economic activity on Свальбард. The treaty of 9 February 1920 gave the 41 signatories equal rights to exploit mineral deposits, subject to Norwegian regulation. Although US, Великобритания, Dutch, и Swedish каменный уголь companies have mined in the past, the only companies still добыча полезных ископаемых are Norwegian и Russian. The settlements on Свальбард are essentially company towns. The Norwegian state-owned каменный уголь company employs nearly 60% of the Norwegian population on the island, runs many of the local services, и provides most of the local infrastructure. There is also some hunting of seal, reindeer, и fox.

In this small, landlocked economy, subsistence agriculture occupies approximately 70% of the population. The обрабатывающая промышленность sector has diversified since the mid-1980s. Sugar и wood pulp remain important foreign exchange earners. In 2007, the sugar industry increased efficiency и diversification efforts, in response to a 17% decline in EU sugar prices. Mining has declined in importance in recent лет with only каменный уголь и quarry stone mines remaining active. Surrounded by Южно-Африканская Республика, except for a short border with Мозамбик, Свазиленд is heavily dependent on Южно-Африканская Республика from which it receives more than nine-tenths of its imports и to which it sends 60% of its exports. Свазиленд 's currency is pegged to the South African rand, subsuming Свазиленд 's monetary policy to Южно-Африканская Республика. Customs duties from the Southern African Customs Union, which may equal as much as 70% of government revenue this year, и worker remittances from Южно-Африканская Республика substantially supplement domestically earned income. Свазиленд is not poor enough to merit an IMF program; however, the country is struggling to reduce the size of the civil service и control costs at public enterprises. The government is trying to improve the atmosphere for foreign investment. With an estimated 40% unemployment rate, Свазиленд 's need to increase the number и size of small и medium enterprises и attract foreign direct investment is acute. Overgrazing, soil depletion, drought, и sometimes floods persist as problems for the future. More than один-fourth of the population needed emergency food aid in 2006-07 because of drought, и nearly two-fifths of the adult population has been infected by HIV/AIDS.

Aided by peace и neutrality for the whole of the 20th century, Швеция has achieved an enviable standard of living under a mixed system of high-tech capitalism и extensive welfare benefits. It has a modern distribution system, excellent internal и external communications, и a skilled labor force. Timber, hydropower, и железная руда constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for about 90% of industrial output, of which the engineering sector accounts for 50% of output и exports. Agriculture accounts for only 1% от ВВП и 2% of employment. Швеция is in the midst of a sustained economic upswing, boosted by increased domestic demand и strong exports. This и robust finances have offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, и streamlining the state's role in the economy. The govenment plans to sell $31 миллиардов: in state assets during the next three лет to further stimulate growth и raise revenue to pay down the federal debt. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy и sovereignty.

Швейцария is a peaceful, prosperous, и stable modern market economy with low unemployment, a highly skilled labor force, и a per capita GDP larger than that of the big Western European economies. The Swiss in recent лет have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Швейцария remains a safehaven for investors, because it has maintained a degree of bank secrecy и has kept up the franc's long-term external value. Reflecting the anemic economic conditions of Europe, GDP growth stagnated during the 2001-03 period, improved during 2004-05, и jumped to 2.9% in 2006, и 2.6% in 2007. Unemployment has remained at less than half the EU average.

The Syrian economy grew by an estimated 3.3% in real terms in 2007 led by the нефть и agricultural sectors, which together account for about один-half от ВВП. Higher сырая нефть prices countered declining нефть production и led to higher budgetary и export receipts. Damascus has implemented modest economic reforms in the past few лет, including cutting lending interest rates, opening private banks, consolidating all of the multiple exchange rates, raising prices on some subsidized items, most notably gasoline и cement, и establishing the Damascus Stock Exchange - which is set to begin operations in 2009. In October 2007, for example, Damascus raised the price of subsidized gasoline by 20%, и may institute a rationing system in 2008. In addition, Президент ASAD signed legislative decrees to encourage corporate ownership reform, и to allow the Central Bank to issue Treasury bills и bonds for government debt. Nevertheless, the economy remains highly controlled by the government. Long-run economic constraints include declining нефть production, high unemployment и inflation, rising budget deficits, и increasing pressure on water supplies caused by heavy use in agriculture, rapid population growth, industrial expansion, и water pollution.

Тайвань has a dynamic capitalist economy with gradually decreasing guidance of investment и foreign trade by the authorities. In keeping with this trend, some large, state-owned banks и industrial firms are being privatized. Exports have provided the primary impetus for industrialization. The island runs a large trade surplus, и its foreign reserves are among the world's largest. Despite restrictions on cross-strait links, Китай has overtaken the US to become Тайвань's largest export market и its second-largest source of imports после Япония. Китай is also the island's number один destination for foreign direct investment. Strong trade performance in 2007 pushed Тайвань's GDP growth rate above 5%, и unemployment is below 4%.

Таджикистан has один of the lowest per capita GDPs among the 15 former Soviet republics. Only 7% of the land area is arable. Cotton is the most important crop, but this sector is burdened with debt и an obsolete infrastructure. Mineral resources include серебро, золото, уран, и вольфрам. Industry consists only of a large aluminum plant, hydropower facilities, и small obsolete factories mostly in light industry и пищевая промышленность. The civil war (1992-97) severely damaged the already weak economic infrastructure и caused a sharp decline in industrial и agricultural production. While Таджикистан has experienced steady economic growth since 1997, nearly two-thirds of the population continues to live in abject poverty. Economic growth reached 10.6% in 2004, but dropped to 8% in 2005, 7% in 2006, и 7.8% in 2007. Таджикистан's economic situation remains fragile due to uneven implementation of structural reforms, corruption, weak governance, widespread unemployment, seasonal power shortages, и the external debt burden. Continued privatization of medium и large state-owned enterprises could increase productivity. A debt restructuring agreement was reached with Россия in December 2002 including a $250 миллионов write-off Таджикистана's $300 миллионов debt. Таджикистан ranks third in the world in terms of water resources per head, but suffers winter power shortages due to poor management of water levels in rivers и reservoirs. Completion of the Sangtuda I hydropower dam - built with Russian investment - и the Sangtuda II и Rogun dams will add substantially to electricity output. If finished according to Tajik plans, Rogun will be the world's tallest dam. Таджикистан has also received substantial infrastructure development loans from the Chinese government to improve roads и an electricity transmission network. To help increase север-юг trade, the US funded a $36 миллионов bridge which opened in August 2007 и links Таджикистан и Афганистан.

Танзания is один of the poorest countries in the world. The economy depends heavily on agriculture, which accounts for more than 40% от ВВП, provides 85% of exports, и employs 80% of the work force. Topography и climatic conditions, however, limit cultivated crops to only 4% of the land area. Industry traditionally featured the processing of продукты сельского хозяйства и light товары народного потребления. The Мир Bank, the IMF, и bilateral donors have provided funds to rehabilitate Танзания's out-of-date economic infrastructure и to alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production и a substantial increase in output of minerals led by золото. Recent banking reforms have helped increase private-sector growth и investment. Continued donor assistance и solid macroeconomic policies supported real GDP growth of nearly 7% in 2007.

With a well-developed infrastructure, a free-enterprise economy, и generally pro-investment policies, Таиланд appears to have fully recovered from the 1997-98 азиаты Financial Crisis. The country was один of East Азия's best performers from 2002-04. Boosted by strong export growth, the Thai economy grew 4.5% in 2007. Bangkok has pursued preferential trade agreements with a variety of partners in an effort to boost exports и to maintain high growth. By 2007, the tourism sector had largely recovered from the major 2004 tsunami. Following the military coup in September 2006, investment и consumer confidence stagnated due to the uncertain political climate that lasted through the December 2007 elections. Foreign investor sentiment was further tempered by a 30% reserve requirement on capital inflows instituted in December 2006, и discussion of amending Таиланд's rules governing foreign-owned businesses. Economic growth in 2007 was due almost entirely to robust export performance - despite the pressure of an appreciating currency. Exports have performed at record levels, rising nearly 17% in 2006 и 12% in 2007. Export-oriented обрабатывающая промышленность - in particular automobile production - и farm output are driving these gains.

In late 1999, about 70% of the economic infrastructure Восточного Тимора was laid waste by Indonesian troops и anti-independence militias. Three hundred thousand people fled westward. Over the next three лет a massive international program, manned by 5,000 peacekeepers (8,000 at peak) и 1,300 police officers, led to substantial reconstruction in both urban и rural areas. By the end of 2005, беженцы had returned или had settled in Индонeзия. The country continues to face great challenges in rebuilding its infrastructure, strengthening the civil administration, и generating jobs for young people entering the work force. The development of нефть и газ resources in offshore waters has begun to supplement government revenues ahead of schedule и above expectations - the result of high нефть prices. The technology-intensive industry, however, has done little to create jobs for the unemployed because there are no production facilities in Timor. Gas is piped to Австралия. In June 2005 the National Parliament unanimously approved the creation of a Petroleum Fund to serve as a repository for all нефть revenues и preserve the value Восточного Тимора's нефть wealth for future generations. The Fund held assets of US$1.8 миллиардов: as of September 2007. The mid-2006 outbreak of violence и civil unrest disrupted both private и public sector economic activity и created 100,000 internally displaced persons - about 10 percent of the population. While real non-нефть GDP growth in 2006 was negative, the economy probably rebounded in 2007. The underlying economic policy challenge the country faces remains how best to use нефть-и-газ wealth to lift the non-нефть economy onto a higher growth path и reduce poverty. In late 2007, the new government announced plans aimed at increasing spending, reducing poverty, и improving the country's infrastructure, but it continues to face capacity constraints. In the short term, the government must also address continuing problems related to the crisis of 2006, especially the displaced Timorese.

This small, sub-Saharan economy is heavily dependent on both commercial и subsistence agriculture, which provides employment for 65% of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, и хлопок generate about 40% of export earnings with хлопок being the most important cash crop. Того is the world's fourth-largest producer of phosphate. The government's decade-long effort, supported by the Мир Bank и the IMF, to implement economic reform measures, encourage foreign investment, и bring revenues in line with expenditures has moved slowly. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, и continued support from foreign donors. Того is working with donors to write a Poverty Reduction и Growth Facility (PRGF) that could eventually свинец to a debt reduction plan. Economic growth remains marginal due to declining хлопок production, underinvestment in phosphate добыча полезных ископаемых, и strained relations with donors.

Токелау's small size (three villages), isolation, и lack of resources greatly restrain economic development и confine agriculture to the subsistence level. The people rely heavily on aid from Новая Зеландия - about $4 миллионов annually - to maintain public services with annual aid being substantially greater than GDP. The principal sources of revenue come from sales of copra, postage stamps, souvenir coins, и handicrafts. Money is also remitted to families from relatives in Новая Зеландия.

Тонга has a small, open, South Pacific island economy. It has a narrow export base in agricultural goods. Squash, vanilla beans, и yams are the main crops, и agricultural exports, including рыба, make up two-thirds of total exports. The country must import a high proportion of its food, mainly from Новая Зеландия. The country remains dependent on external aid и remittances from Tongan communities overseas to offset its trade deficit. Tourism is the second-largest source of hard currency earnings following remittances. The government is emphasizing the development of the private sector, especially the encouragement of investment, и is committing increased funds for health и education. Тонга has a reasonably sound basic infrastructure и well-developed social services. High unemployment among the young, a continuing upturn in inflation, pressures for democratic reform, и rising civil service expenditures are major issues facing the government.

Тринидад и Тобаго has earned a reputation as an excellent investment site for international businesses и has один of the highest growth rates и per capita incomes in Latin America. Recent growth has been fueled by investments in liquefied природный газ (LNG), petrochemicals, и steel. Additional petrochemical, aluminum, и plastics projects are in various stages of planning. Тринидад и Тобаго is the leading Caribbean producer of нефть и газ, и its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food и beverages, as well as cement to the Caribbean region. Oil и газ account for about 40% от ВВП и 80% of exports, but only 5% of employment. The country is also a regional financial center, и tourism is a growing sector, although it is not proportionately as important as in many other Caribbean islands. The economy benefits from a growing trade surplus. Economic growth reached 12.6% in 2006 и 5.5% in 2007 as prices for нефть, petrochemicals, и LNG remained high, и as foreign direct investment continued to grow to support expanded capacity in the энергия sector.

Тунис has a diverse economy, with important agricultural, добыча полезных ископаемых, tourism, и обрабатывающая промышленность sectors. Governmental control of economic affairs while still heavy has gradually lessened over the past decade with increasing privatization, simplification of the tax structure, и a prudent approach to debt. Progressive social policies also have helped raise living conditions in Тунис relative to the region. Real growth, which averaged almost 5% over the past decade, reached 6.3% in 2007 because of development in non-textile обрабатывающая промышленность, a recovery in agricultural production, и strong growth in the services sector. However, Тунис will need to reach even higher growth levels to create sufficient employment opportunities for an already large number of unemployed as well as the growing population of university graduates. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, и reduction of the trade deficit are among the challenges ahead.

Турция's dynamic economy is a complex mix of modern industry и commerce along with a traditional agriculture sector that still accounts for more than 35% of employment. It has a strong и rapidly growing private sector, yet the state still plays a major role in basic industry, banking, transport, и communication. The largest industrial sector is textiles и одежда, which accounts for один-third of industrial employment; it faces stiff competition in international markets with the end of the global quota system. However, other sectors, notably the automotive и производство электроники industries, are rising in importance within Турция's export mix. Real GNP growth has exceeded 6% in many лет, but this strong expansion has been interrupted by sharp declines in output in 1994, 1999, и 2001. The economy is turning around with the implementation of economic reforms, и 2004 GDP growth reached 9%, followed by roughly 5% annual growth from 2005-07. Inflation fell to 7.7% in 2005 - a 30-year low - but climbed back to 8.5% in 2007. Despite the strong economic gains from 2002-07, which were largely due to renewed investor interest in emerging markets, IMF backing, и tighter fiscal policy, the economy is still burdened by a high current account deficit и high external debt. Further economic и judicial reforms и prospective EU membership are expected to boost foreign direct investment. The stock value of FDI currently stands at about $85 миллиардов:. Privatization sales are currently approaching $21 миллиардов:. Oil began to flow through the Baku-Tblisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 миллионов barrels per day from the Caspian to market. In 2007, Turkish financial markets weathered significant domestic political turmoil, including turbulence sparked by controversy over the selection of former Foreign Minister Abdullah GUL as Турция's 11th president. Economic fundamentals are sound, marked by strong economic growth и foreign direct investment. Турция's high current account deficit leaves the economy vulnerable to destabilizing shifts in investor confidence, however.

Туркменистан is a largely desert country with intensive agriculture in irrigated oases и large газ и нефть resources. One-half of its irrigated land is planted in хлопок; formerly it was the world's 10th-largest producer. Poor harvests in recent лет have led to an almost 50% decline in хлопок exports. With an authoritarian ex-Communist regime in power и a tribally based social structure, Туркменистан has taken a cautious approach to economic reform, hoping to use газ и хлопок sales to sustain its inefficient economy. Privatization goals remain limited. From 1998-2005, Туркменистан suffered from the continued lack of adequate export routes for природный газ и from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003-07, largely because of higher international нефть и газ prices. Overall prospects in the near future are discouraging because of widespread internal poverty, a poor educational system, government misuse of нефть и газ revenues, и Ashgabat's reluctance to adopt market-oriented reforms. In the past, Туркменистан's economic statistics were state secrets. The new government has established a State Agency for Statistics, but GDP numbers и other figures are subject to wide margins of error. In particular, the rate от ВВП growth is uncertain. Since his election, Президент BERDIMUHAMEDOW has sought to improve the health и education systems, ordered unification of the country's dual currency exchange rate, begun decreasing state subsidies for gasoline, signed an agreement to build a газ line to Китай, и created a special tourism zone on the Caspian Sea. All of these moves hint that the new post-NYYAZOW government will work to create a friendlier foreign investment environment.

The Turks и Caicos economy is based on tourism, offshore financial services, и рыболовство. Most капитал и food for domestic consumption are imported. The US is the leading source of tourists, accounting for more than three-quarters of the 175,000 visitors that arrived in 2004. Major sources of government revenue also include fees from offshore financial activities и customs receipts.

Тувалу consists of a densely populated, scattered group of nine coral atolls with poor soil. The country has no known mineral resources и few exports. Subsistence фермерство и рыболовство are the primary economic activities. Fewer than 1,000 tourists, on average, visit Тувалу annually. Job opportunities are scarce и public sector workers make up the majority of those employed. About 15% of the adult мужчин population work as seamen on merchant ships abroad и remittances are a vital source of income, contributing around $4 миллионов in 2006. Substantial income is received annually from the Тувалу Trust Fund (TTF), an international trust fund established in 1987 by Австралия, NZ, и the Великобритания и supported also by Япония и South Korea. Thanks to wise investments и conservative withdrawals, this fund grew from an initial $17 миллионов to an estimated value of $77 миллионов in 2006. The TFF contributed nearly $9 миллионов towards the government budget in 2006 и is an important cushion for meeting shortfalls in the government's budget. The US Правление is also a major revenue source for Тувалу because of payments from a 1988 treaty on fisheries. In an effort to ensure financial stability и sustainability, the government is pursuing public sector reforms, including privatization of some government functions и personnel cuts. Тувалу also derives royalties from the lease of its ".tv" Интернет domain name, with revenue of more than $2 миллионов in 2006. A minor source of government revenue comes from the sale of stamps и coins. With merchandise exports only a fraction of merchandise imports, continued reliance must be placed on рыболовство и телекоммуникации license fees, remittances from overseas workers, official transfers, и income from overseas investments. Growing income disparities и the vulnerability of the country to climatic change are among leading concerns for the nation.

Угадна has substantial natural resources, including fertile soils, regular rainfall, и sizable mineral deposits of медь, cobalt, золото, и other minerals. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries и international agencies - has acted to rehabilitate и stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of нефтяные продукты, и improving civil service wages. The policy changes are especially aimed at dampening inflation и boosting production и export earnings. During 1990-2001, the economy turned in a solid performance based on continued investment in the rehabilitation of infrastructure, improved incentives for production и exports, reduced inflation, gradually improved domestic security, и the return of exiled Indian-Ugandan entrepreneurs. Growth continues to be solid, despite variability in the price of coffee, Угадна's principal export, и a consistent upturn in Угадна's export markets. In 2000, Угадна qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 миллиардов: и Paris Club debt relief worth $145 миллионов. These amounts combined with the original HIPC debt relief added up to about $2 миллиардов:.

After Россия, the Ukrainian republic was far и away the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile черные soil generated more than один-fourth of Soviet agricultural output, и its farms provided substantial quantities of meat, milk, grain, и овощи to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) и raw materials to industrial и добыча полезных ископаемых sites (vertical drilling apparatus) in other regions of the former USSR. Shortly после independence was ratified in December 1991, the Ukrainian Правление liberalized most prices и erected a legal framework for privatization, but widespread resistance to reform within the government и the legislature soon stalled reform efforts и led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Украина's dependence on Россия for энергия supplies и the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Украина depends on imports to meet about three-fourths of its annual нефть и природный газ requirements. A dispute with Россия over pricing in late 2005 и early 2006 led to a temporary газ cut-off; Украина concluded a deal with Россия in January 2006 that almost doubled the price Украина pays for Russian газ. Outside institutions - particularly the IMF - have encouraged Украина to quicken the pace и scope of reforms. Ukrainian Правление officials eliminated most tax и customs privileges in a March 2005 budget law, bringing more economic activity out Украины's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, и improving the legislative framework. Украина's economy remains buoyant despite political turmoil between the Премьер Министр и Президент. Real GDP growth reached about 7% in 2006-07, fueled by high global prices for steel - Украина's top export - и by strong domestic consumption, spurred by rising pensions и wages. Although the economy is likely to expand in 2008, long-term growth could be threatened by the government's plans to reinstate tax, trade, и customs privileges и to maintain restrictive grain export quotas.

The UAE has an open economy with a high per capita income и a sizable annual trade surplus. Despite largely successful efforts at economic diversification, nearly 40% от ВВП is still directly based on нефть и газ output. Since the discovery of нефть in the UAE more than 30 лет ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation и infrastructure expansion и is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade и Investment Framework Agreement with Washington и in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US. The country's Free Trade Zones - offering 100% foreign ownership и zero taxes - are helping to attract foreign investors. Higher нефть revenue, strong liquidity, housing shortages, и cheap credit in 2005-07 led to a surge in asset prices (shares и real estate) и consumer inflation. Rising prices are increasing the operating costs for businesses in the UAE и adversely impacting government employees и others on fixed incomes. Dependence on нефть и a large expatriate workforce are significant long-term challenges. The UAE's strategic plan for the next few лет focuses on diversification и creating more opportunities for nationals through improved education и increased private sector employment.

The Великобритания, a leading trading power и financial center, is один of the quintet of триллионов dollar economies of Western Europe. Over the past two decades, the government has greatly reduced public ownership и contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, и efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The Великобритания has large каменный уголь, природный газ, и нефть reserves; primary энергия production accounts for 10% от ВВП, один of the highest shares of any industrial nation. Services, particularly banking, insurance, и business services, account by far for the largest proportion от ВВП while industry continues to decline in importance. Since emerging from recession in 1992, Britain's economy has enjoyed the longest period of expansion on record; growth has remained in the 2-3% range since 2004, outpacing most of Europe. The economy's strength has complicated the Labor government's efforts to make a case for Britain to join the European Economic и Monetary Union (EMU). Critics point out that the economy is doing well outside of EMU, и public opinion polls show a majority of Britons are opposed to the euro. The BROWN government has been speeding up the improvement of education, health services, и affordable housing at a cost in higher taxes и a widening public deficit.

The US has the largest и most technologically powerful economy in the world, with a per capita GDP of $46,000. In this market-oriented economy, private individuals и business firms make most of the decisions, и the federal и state governments buy needed goods и services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe и Япония in decisions to expand capital plant, to lay off surplus workers, и to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at или near the forefront in technological advances, especially in компьютеры и in medical, аэрокосмическая промышленность, и military equipment; their advantage has narrowed since the end Мира War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education и the специалисты/технический персонал skills of those at the top и, more и more, fail to get comparable pay raises, health insurance coverage, и other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March-April 2003 between a US-led coalition и Ирак, и the subsequent occupation Ирака, required major shifts in national resources to the military. The rise in GDP in 2004-07 was undergirded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring нефть prices in 2005-2007 threatened inflation и unemployment, yet the economy continued to grow through year-end 2007. Imported нефть accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical и pension costs of an aging population, sizable trade и budget deficits, и stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $847 миллиардов: in 2007. Together, these problems caused a marked reduction in the value и status of the dollar worldwide in 2007.

Уругвай's economy is characterized by an export-oriented agricultural sector, a well-educated work force, и high levels of social spending. After averaging growth of 5% annually during 1996-98, in 1999-2002 the economy suffered a major downturn, stemming largely from the spillover effects of the economic problems of its large neighbors, Аргентина и Бразилия. For instance, in 2001-02 Аргентина made massive withdrawals of dollars deposited in Uruguayan banks, which led to a plunge in the Uruguayan peso и a massive rise in unemployment. Total GDP in these four лет dropped by nearly 20%, with 2002 the worst year due to the banking crisis. The unemployment rate rose to nearly 20% in 2002, inflation surged, и the burden of external debt doubled. Cooperation with the IMF helped stem the damage. Уругвай in 2007 improved its debt profile by paying off $1.1 миллиардов: in IMF debt, и continues to follow the orthodox economic plan set by the Fund in 2005. The construction of a pulp mill in Fray Bentos, which represents the largest foreign direct investment in Уругвай's history at $1.2 миллиардов:, came online in November 2007 и is expected to add 1.6% to GDP и boost already rising exports. The economy has grown strongly since 2004 as a result of high commodity prices for Uruguayan exports, a strong peso, growth in the region, и low international interest rates.

Узбекистан is a dry, landlocked country of which 11% consists of intensely cultivated, irrigated river valleys. More than 60% of its population lives in densely populated rural communities. Узбекистан is now the world's second-largest хлопок exporter и fifth largest producer; it relies heavily on хлопок production as the major source of export earnings. Other major export earners include золото, природный газ, и нефть. Following independence in September 1991, the government sought to prop up its Soviet-style command economy with subsidies и tight controls on production и prices. While aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income distribution has hurt the lower ranks of society since independence. In 2003, the government accepted Article VIII obligations under the IMF, providing for full currency convertibility. However, strict currency controls и tightening of borders have lessened the effects of convertibility и have also led to some shortages that have further stifled economic activity. The Central Bank often delays или restricts convertibility, especially for товары народного потребления. Potential investment by Россия и Китай in Узбекистан's газ и нефть industry may boost growth prospects. In November 2005, Russian Президент Vladimir PUTIN и Узбекистан Президент KARIMOV signed an "alliance," which included provisions for economic и business cooperation. Russian businesses have shown increased interest in Узбекистан, especially in добыча полезных ископаемых, telecom, и нефть и газ. In 2006, Узбекистан took steps to rejoin the Collective Security Treaty Organization (CSTO) и the Eurasian Economic Community (EurASEC), both organizations dominated by Россия. Uzbek authorities have accused US и other foreign companies operating in Узбекистан of violating Uzbek tax laws и have frozen their assets.

This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for 65% of the population. Fishing, offshore financial services, и tourism, with more than 60,000 visitors in 2005, are other mainstays of the economy. Mineral deposits are negligible; the country has no known нефть deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, и long distances from main markets и between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002 the government stepped up efforts to boost tourism through improved air connections, resort development, и cruise ship facilities. Agriculture, especially livestock фермерство, is a second target for growth. Австралия и Новая Зеландия are the main suppliers of tourists и foreign aid.

Венесуэлa remains highly dependent on нефть revenues, which account for roughly 90% of export earnings, more than 50% of the federal budget revenues, и around 30% от ВВП. A nationwide strike between December 2002 и February 2003 had far-reaching economic consequences - real GDP declined by around 9% in 2002 и 8% in 2003 - but economic output since then has recovered strongly. Fueled by high нефть prices, record government spending helped to boost GDP in 2006 by about 9% и in 2007 by about 8%. This spending, combined with recent minimum wage hikes и improved access to domestic credit, has created a consumption boom but has come at the cost of higher inflation-roughly 20 percent in 2007. Imports also have jumped significantly. Embolden by his December 2006 reelection, Президент Hugo CHAVEZ in 2007 nationalized firms in the нефть, communications, и electricity sectors, which reduced foreign influence in the economy. Although voters in December 2007 rejected CHAVEZ's proposed constitutional changes, CHAVEZ still has significant control of the economy и has indicated he intends to continue to consolidate и centralize authority over the economy by implementing "21st Century Socialism."

Вьетнам is a densely-populated developing country that in the last 30 лет has had to recover from the ravages of war, the loss of financial support from the old Soviet Bloc, и the rigidities of a centrally-planned economy. Economic stagnation marked the period после reunification from 1975 to 1985. In 1986, the Sixth Party Congress approved a broad economic reform package that introduced market reforms и set the groundwork for Вьетнам's improved investment climate. Substantial progress was achieved from 1986 to 1997 in moving forward from an extremely low level of development и significantly reducing poverty. The 1997 азиаты financial crisis highlighted the problems in the Vietnamese economy и temporarily allowed opponents of reform to slow progress toward a market-oriented economy. GDP growth averaged 6.8% per year from 1997 to 2004 even against the background of the азиаты financial crisis и a global recession. Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization и international integration. They have moved to implement the structural reforms needed to modernize the economy и to produce more competitive, export-driven industries. The economy grew 8.5% in 2007. Вьетнам's membership in the ASEAN Free Trade Area (AFTA) и entry into force of the US-Вьетнам Bilateral Trade Agreement in December 2001 have led to even more rapid changes in Вьетнам's trade и economic regime. Вьетнам's exports to the US increased 900% from 2001 to 2007. Вьетнам joined the WTO in January 2007, following over a decade long negotiation process. WTO membership has provided Вьетнам an anchor to the global market и reinforced the domestic economic reform process. Among other benefits, accession allows Вьетнам to take advantage of the phase-out of the Agreement on Textiles и Clothing, which eliminated quotas on textiles и одежда for WTO partners on 1 January 2005. Agriculture's share of economic output has continued to shrink, from about 25% in 2000 to less than 20% in 2007. Deep poverty, defined as a percent of the population living under $1 per day, has declined significantly и is now smaller than that Китая, Индия, и the Филиппины. Вьетнам is working to create jobs to meet the challenge of a labor force that is growing by more than один-и-a-half миллионов people every year. In an effort to stem high inflation which took off in 2007, early in 2008 Vietnamese authorities began to raise benchmark interest rates и reserve requirements. Hanoi is targeting an economic growth rate of 7.5-8% during the next four лет.

Tourism is the primary economic activity, accounting for 80% от ВВП и employment. The islands hosted 2.6 миллионов visitors in 2005. The обрабатывающая промышленность sector consists of нефть refining, textiles, производство электроники, pharmaceuticals, и watch assembly. One of the world's largest нефть refineries is at Saint Croix. The agricultural sector is small, with most food being imported. Международные business и financial services are small but growing components of the economy. The islands are vulnerable to substantial damage from storms. The government is working to improve fiscal discipline, to support construction projects in the private sector, to expand tourist facilities, to reduce crime, и to protect the environment.

The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings from agriculture (coconuts и овощи), livestock (mostly pigs), и рыболовство. About 4% of the population is employed in government. Revenues come from French Правление subsidies, licensing of рыболовство rights to Япония и South Korea, import taxes, и remittances from expatriate workers in Новая Каледония: заморская территория Франции.

The Западный берег Иордании - the larger of the two areas comprising the Palestinian Authority (PA) - has experienced a general decline in economic conditions since the second intifada began in September 2000. The downturn has been largely a result of Israeli closure policies - the imposition of closures и access restrictions in response to security concerns in Израиль - which disrupted labor и trading relationships. In 2001, и even more severely in 2002, Israeli military measures in PA areas resulted in the destruction of capital, the disruption of administrative structures, и widespread business closures. Международные aid of at least $1.14 миллиардов: to the Западный берег Иордании и Сектор Газa in 2004 prevented the complete collapse of the economy и allowed some reforms in the government's financial operations. In 2005, high unemployment и limited trade opportunities - due to continued closures both within the Западный берег Иордании и externally - stymied growth. Израиль's и the international community's financial embargo of the PA when HAMAS ran the PA during March 2006 - June 2007 has interrupted the provision of PA social services и the payment of PA salaries. Since June the Fayyad government in the Западный берег Иордании has restarted salary payments и the provision of services but would be unable to operate absent high levels of international assistance.

Западная Сахара depends on pastoral nomadism, рыболовство, и phosphate добыча полезных ископаемых as the principal sources of income for the population. The territory lacks sufficient rainfall for sustainable agricultural production, и most of the food for the urban population must be imported. Incomes in Западная Сахара are substantially below the Moroccan level. The Moroccan Правление controls all trade и other economic activities in Западная Сахара. Мороккo и the EU signed a four-year agreement in July 2006 allowing European vessels to рыба off the coast Мороккo, including the disputed waters off the coast Западной Сахары. Moroccan энергия interests in 2001 signed contracts to explore for нефть off the coast Западной Сахары, which has angered the Polisario. However, in 2006 the Polisario awarded similar exploration licenses in the disputed territory, which would come into force if Мороккo и the Polisario resolve their dispute over Западная Сахара.

Global output rose by 5.2% in 2007, led by Китай (11.4%), Индия (9.2%), и Россия (8.1%). The 14 other successor nations of the USSR и the other old Warsaw Pact nations again experienced widely divergent growth rates; the three Baltic nations continued as strong performers, in the 8%-10% range of growth. From 2006 to 2007 growth rates slowed in all the major industrial countries except for the Великобритания (3.1%). Analysts attribute the slowdown to uncertainties in the financial markets и lowered consumer confidence. Worldwide, nations varied widely in their growth results. Externally, the nation-state, as a bedrock economic-political institution, is steadily losing control over international flows of people, goods, funds, и technology. Internally, the central government often finds its control over resources slipping as separatist regional movements - typically based on ethnicity - gain momentum, e.g., in many of the successor states of the former Soviet Union, in the former Yugoslavia, in Индия, in Ирак, in Индонeзия, и in Канада. Externally, the central government is losing decisionmaking powers to international bodies, notably the EU. In Western Europe, governments face the difficult political problem of channeling resources away from welfare programs in order to increase investment и strengthen incentives to seek employment. The addition of 80 миллионов people each year to an already overcrowded globe is exacerbating the problems of pollution, desertification, underemployment, epidemics, и famine. Because of their own internal problems и priorities, the industrialized countries devote insufficient resources to deal effectively with the poorer areas of the world, which, at least from an economic point of view, are becoming further marginalized. The introduction of the euro as the common currency of much of Western Europe in January 1999, while paving the way for an integrated economic powerhouse, poses economic risks because of varying levels of income и cultural и political differences among the participating nations. The terrorist attacks on the US on 11 September 2001 accentuated a growing risk to global prosperity, illustrated, for example, by the reallocation of resources away from investment to anti-terrorist programs. The opening of war in March 2003 between a US-led coalition и Ирак added new uncertainties to global economic prospects. After the initial coalition victory, the complex political difficulties и the high economic cost of establishing domestic order in Ирак became major global problems that continued through 2007.

Емен, один of the poorest countries in the Arab world, reported average annual growth in the range of 3-4% from 2000 through 2007. Its economic fortunes depend mostly on declining нефть resources, but the country is trying to diversify its earnings. In 2006 Емен began an economic reform program designed to bolster non-нефть sectors of the economy и foreign investment. As a result of the program, international donors pledged about $5 миллиардов: for development projects. In addition, Емен has made some progress on reforms over the last year that will likely encourage foreign investment. Oil revenues probably increased in 2007 as a result of higher prices.

The government Зимбабве faces a wide variety of difficult economic problems as it struggles with an unsustainable fiscal deficit, an overvalued official exchange rate, hyperinflation, и bare store shelves. Its 1998-2002 involvement in the war in the Democratic Республика the Congo drained hundreds of millions of dollars from the economy. The government's land reform program, characterized by chaos и violence, has badly damaged the commercial фермерство sector, the traditional source of exports и foreign exchange и the provider of 400,000 jobs, turning Зимбабве into a net importer of food products. The EU и the US provide food aid on humanitarian grounds. Badly needed support from the IMF has been suspended because of the government's arrears on past loans и the government's unwillingness to enact reforms that would stabilize the economy. The Reserve Bank Зимбабве routinely prints money to fund the budget deficit, causing the official annual inflation rate to rise from 32% in 1998, to 133% in 2004, 585% in 2005, passed 1000% in 2006, и 26000% in November 2007. Private sector estimates of inflation in 2007 are well above 100,000%. Meanwhile, the official exchange rate fell from approximately 1 (revalued) Zimbabwean dollar per доллар США in 2003 to 30,000 per доллар США in 2007.